- Gaotu Techedu press release (NYSE:GOTU): Q2 GAAP EPS of -$0.03.
- Revenue of $80.29M (-75.9% Y/Y).
- Gross billings were RMB611.7M, compared with gross billings of RMB2,694.7M in the same period of 2021.
- Non-GAAP gross profit margin increased to 73.7% from 69.1% in the same period of 2021.
- As of June 30, 2022, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB3,353.2M in aggregate, compared with a total of RMB3,671.1M as of December 31, 2021.
- Based on the company's current estimates, total net revenues for the third quarter of 2022 are expected to be between RMB576 million and RMB596 million, representing a decrease of 46.5% to 48.3% on a Y/Y basis vs. estimated decline of 75.93% Y/Y.