Gaotu Techedu Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was CNY 761.01 million compared to CNY 629.63 million a year ago. Net loss was CNY 119.65 million compared to net income of CNY 70.61 million a year ago. Basic loss per share from continuing operations was CNY 0.46 compared to basic earnings per share from continuing operations of CNY 0.2733 a year ago. Diluted loss per share from continuing operations was CNY 0.46 compared to diluted earnings per share from continuing operations of CNY 0.2667 a year ago.

For the full year, the company reported sales was CNY 2,960.81 million compared to CNY 2,498.21 million a year ago. Net loss was CNY 7.3 million compared to net income of CNY 13.17 million a year ago. Basic loss per share from continuing operations was CNY 0.0267 compared to basic earnings per share from continuing operations of CNY 0.0533 a year ago. Diluted loss per share from continuing operations was CNY 0.0267 compared to diluted earnings per share from continuing operations of CNY 0.0467 a year ago.