logo
  

TAL Education Q2 Loss Narrows While Revenue Falls

TAL Education Group (TAL), a Chinese education solutions provider, on Friday posted a decline in loss for the second-quarter, amidst a fall in net revenue.

For the second-quarter ended on August 31, the Beijing-headquartered firm posted a loss of $0.787 million or $0.00 per share, compared with a loss of $826.546 million or $3.86 per share, posted a year ago.

Net profit per ADS was at $0.00, compared with a loss of $1.29 per ADS posted for the same period of 2021.

Excluding items, it reported a profit of $26.637 million, versus a loss of $760.112 million last year. Adjusted income per ADS was at $0.04, versus a loss per ADS of $1.18.

The company reported Income from operations of $14.891 million, compared with a loss of $379.874 million, recorded for the same period of 2021.

TAL Education's net revenues moved down to $294.060 million from $1.443 billion of previous fiscal.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Precision care innovator GE HealthCare Technologies, Inc., recently spun-off from General Electric Co., reported on Monday that profit for the fourth quarter declined from last year, reflecting higher interest and other financial charges. The company also initiated adjusted earnings guidance for the full-year 2023. Japanese auto major Toyota Motor Corp. has retained its title as the world's top selling automaker in fiscal 2022 for the third straight year, by selling around 10.5 million vehicles. The global sales were nearly flat with last year amid solid demand centered around Asia, while global production grew with increased capacity and production optimization in North America and Asia. Dutch consumer electronics giant Philips Electronics NV reported Monday a loss in its fourth quarter, compared to prior year's profit, even as sales increased. The company further declared a dividend, and said its order book remains strong. Going ahead, the company projects comparable sales growth in fiscal 2023, 2025, and beyond.
RELATED NEWS
Follow RTT