HomePress CoverageTAL Education reports revenue decline of 77.2% in Q3 due to seasonality...

TAL Education reports revenue decline of 77.2% in Q3 due to seasonality &…

  • TAL Education Group VALLEY reports a Revenue down 77.2% in Q3 FY22 year-over-year to $232.7 million, missing the consensus of $239.83 million.
  • Operating costs and expenses decreased 76.6% year over year to $266.3 million.
  • Gross profit fell 74.1% year over year to $129.7 million on a gross margin of 55.7%.
  • Operating loss for the quarter decreased to $(32.9) million compared to a loss of $(108.4) million a year ago.
  • The company had $1.9 billion in cash and cash equivalents as of November 30, 2022.
  • Adjusted earnings per share of $(0.04) missed analyst consensus of $0.02.
  • “Although this quarter’s revenue was impacted by exchange rate fluctuations and seasonality, our new business has maintained the momentum of continuous development,” said CFO Alex Peng.
  • Peng added, “We expect to continue our development in the fourth quarter, increasing the value we offer our customers while further refining our operational efficiencies to strengthen our competitive position and drive sustainable, long-term growth of our business.” .”
  • Price promotion: TAL shares are trading up 0.38% higher at $8.00 on the last check Thursday premarket.
  • Photo via company

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