BEIJING (dpa-AFX) - Below are the earnings highlights for Gaotu Techedu Inc. (GOTU):
Earnings: RMB123.991 million in Q1 vs. -RMB12.297 million in the same period last year. EPS: RMB0.73 in Q1 vs. -RMB0.07 in the same period last year. Revenue: RMB1.493 billion in Q1 vs. RMB946.885 million in the same period last year.
Gaotu Techedu's first-quarter revenue performance was supported by strong market demand.
For the first quarter, the company posted net earnings per ADS of RMB 0.49, compared with a loss of RMB 0.05 per ADS, registered for the same period last year.
Excluding items, income surged to RMB 137.339 million from the prior year's RMB 3.039 million in 2024.
On May 15, the Board approved a new program to repurchase up to $100 million of shares over the next three years, effective upon the completion of the current share repurchase.
Looking ahead, for the second quarter, Gaotu Techedu expects revenue of RMB1.298 billion to RMB1.318 billion, representing an increase of 28.5 to 30.5% on a year-over-year basis.
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