GSX Techedu Inc. (GOTU) Misses Q1 EPS by 47c

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Go back to GSX Techedu Inc. (GOTU) Misses Q1 EPS by 47c

GSX Techedu Announces First Quarter of 2021 Unaudited Financial Results

May 26, 2021 3:00 AM EDT

BEIJING, May 26, 2021 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GOTU) (the "Company"), a leading online large-class after-school tutoring service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Highlights[1]

Net revenues was RMB1,940.3 million, a 49.5% year-over-year increase.

- Net revenues of online K-12 courses increased 62.2% year-over-year to RMB1,816.3 million.

Gross billings[2] was RMB1,181.3 million, compared with gross billings of RMB1,374.4 million in the... More