Gaotu(GOTU) - 2024 Q1 - Quarterly Report

Exhibit 99.1 Gaotu Techedu Announces First Quarter 2024 Unaudited Financial Results Beijing, China, May 21, 2024 —Gaotu Techedu Inc. (NYSE: GOTU) ("Gaotu" or the "Company"), a technology-driven education company and online large-class tutoring service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights[1] • Net revenues were RMB946.9 million, increased by 33.9% from RMB707.3 million in the same period of 2023. • Gross b ...