Chinese online education firm Gaotu Techedu falls after posting Q2 loss

Gaotu Techedu

27/08/2024 11:15

** Shares of Chinese online education firm Gaotu Techedu
 GOTU.N  fall 8% to $3.75 premarket
    ** Co posts Q2 adj. net loss of 418 mln yuan ($58.6 mln) vs
year-ago profit of 63.2 mln yuan; revenue rises 43.6%
    ** Co forecasts Q3 revenue in the range of 1.18-1.20 bln
yuan, slightly below analysts' estimates of 1.22 bln yuan - LSEG
data
    ** However, six of eight brokerages rate the stock "buy" or
higher; median PT is $7.05
    ** GOTU was up 12.7% YTD, up to last close

($1 = 7.1262 Chinese yuan renminbi)

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))