Stock Track | Gaotu Techedu Plunges 9.4% in Pre-Market on Disappointing Q3 Earnings Miss

Stock Track12-04

Shares of Gaotu Techedu Inc. (GOTU) plummeted 9.4% in pre-market trading on Wednesday, reacting to the company's disappointing third-quarter 2024 financial results released earlier.

The Chinese online education company reported a much wider-than-expected adjusted loss per ADS of RMB1.83 for the quarter, significantly missing analyst estimates of a RMB0.97 loss. Additionally, Gaotu Techedu's revenue of RMB1.208 billion fell short of expectations, missing the consensus estimate of RMB1.211 billion by a slight margin.

The substantial earnings miss and slight revenue shortfall appear to be the primary drivers behind the stock's sharp pre-market decline. Investors reacted negatively to the company's poor performance and lack of profitability, as reflected in the steep sell-off.

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(GOTU) plummeted 9.4% in pre-market trading on Wednesday, reacting to the company's disappointing third-quarter 2024 financial results released earlier.\nThe Chinese online...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOTU","symbol_name":"高途","start_time":0,"source_url":"","article_id":"1119577577","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1119577577","pubTimestamp":1733302966,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Gaotu Techedu Inc.  plummeted 9.4% in pre-market trading on Wednesday, reacting to the company's disappointing third-quarter 2024 financial results released earlier.The Chinese online education company reported a much wider-than-expected adjusted loss per ADS of RMB1.83 for the quarter, significantly missing analyst estimates of a RMB0.97 loss. 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