The "AI+education" business has not yet been implemented, what is Gotu.US doing to support Wall Street's confidence?
In pre-market trading on August 27, GaoTu released its financial performance for the second quarter of the 2024 fiscal year. The financial report shows that GaoTu's Q2 revenue was 1.01 billion yuan (RMB, same unit), a year-on-year increase of 43.6%; however, although GaoTu's current revenue increased, the net loss for the period reached 0.43 billion yuan, compared to a net income of 56.16 million yuan in the same period last year, resulting in a profit turning into a loss.
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Gaotu Techedu Inc. (GOTU) Q2 2024 Earnings Call Transcript Summary
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