Why Gaotu Techedu Shares Are Rising Today

Gaotu Techedu Inc GOTU shares are trading higher by 15.53% at $1.52 after the company announced first-quarter earnings results.

Gaotu Techedu reported first-quarter EPS of 6 cents. Gaotu Techedu also reported first-quarter sales of $114.30 million which beat the analyst consensus estimate of $82.4 million.

Larry Xiangdong Chen, the Gaotu Techedu founder, Chairman and CEO, commented, "In the first quarter of 2022, our businesses continued to maintain a healthy and sustainable development, and we have remained profitable for two consecutive quarters since we began our business restructuring. Going forward, we will continue to develop and invest in our four core businesses, which are professional education for college students and adults, vocational education, STEAM education and digital educational products.

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Gaotu Techedu is a technology-driven education company.

According to data from Benzinga Pro, Gaotu Techedu has a 52-week high of $18.06 and a 52-week low of $1.15.