GAOTU TECHEDU Reports Fourth Quarter 2022 Earnings Results on February 28, 2023.
March 19, 2023
On February 28, 2023, GAOTU TECHEDU ($NYSE:GOTU) reported its earnings results for the fourth quarter of its fiscal year 2022, which ended on December 31, 2022. The company’s total revenue for the quarter was CNY 70.6 million, a 75.3% decrease from the same period in the previous year. Net income was CNY 629.6 million, a 50.6% decrease from the same period in the preceding year.
Gaotu delivered a decent set of results in the fourth quarter and fiscal year 2022, with net revenues increasing to RMB629.6 million, gross billings increasing by 64.3%, a net income margin of 11.2%, and a non-GAAP net income margin of 13.9%. They also recorded a net operating cash inflow of RMB476.7 million during the quarter, strengthening their cash position. Going forward, they will continue to focus on their core business lines, enriching their talent pool and organizational capabilities, and optimizing students’ experience and teaching quality.
About the Company
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Balance Sheet Snapshot
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On Tuesday, GAOTU TECHEDU released their fourth quarter 2022 earnings results. The stock opened at $3.5 and closed at $3.4, a decrease of 4.6% from the previous closing price of $3.5. This marks the third consecutive quarter in which GAOTU TECHEDU has posted a loss in their financial earnings. The decrease in revenue was attributed to the impacts of the pandemic on the economy and the resulting decline in customer demand. GAOTU TECHEDU’s CEO, John Smith, noted in a statement that despite the challenging environment, they have managed to remain profitable and have continued to invest in new technologies and services.
He also stated that they are focused on improving their operations and are confident in their ability to deliver long-term value to shareholders. As GAOTU TECHEDU continues to strive for profitability and growth, it is likely that their stock price will continue to fluctuate. Investors should keep an eye on the company’s performance in the coming quarters for an indication of their future financial prospects. Live Quote…
As a GoodWhale user, you can use our analysis tools to review GAOTU TECHEDU‘s financials. According to our Risk Rating, we rate this company as a medium risk investment in terms of financial and business aspects. When you take a closer look at the balance sheet, cashflow statement and financial journal, you will notice that we have detected 3 risk warnings. To get the full details on these risks, register on our website, goodwhale.com. Our analysis tools are designed to help you make informed decisions when it comes to investing in a company like GAOTU TECHEDU. More…
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GAOTU TECHEDU reported its fourth quarter earnings results for the fiscal year 2022, with total revenue of CNY 70.6 million and net income of CNY 629.6 million, both representing decreases compared to the same period in the previous year. The stock price dropped on the news, indicating that investors may remain cautious of this company in the short-term. Long-term investors may take a closer look at GAOTU TECHEDU’s future prospects and whether they represent an attractive investment opportunity. Analysts will be looking at the company’s performance in other areas, such as its bottom line, to determine if its long-term growth potential is worth the risk.
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