Gaotu(GOTU) - 2023 Q2 - Quarterly Report

Exhibit 99.1 Gaotu Techedu Announces First Quarter of 2023 Unaudited Financial Results Beijing, China, May 30, 2023 —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, 2023. First Quarter 2023 Highlights[1] • Net revenues were RMB707.3 million, compared with net revenues of RMB724.6 million in the same period of 2022. ...