China’s K-12 education solutions provider Tal Education Group (NYSE:TAL) has seen a massive drop in its top line during the third quarter.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Revenue dropped 77.2% year-over-year to $232.7 million. Net loss per ADS (American Depository Share) came in at $0.04. The figure was wider than the Street’s estimates by $0.01. The company had a cash pile of $3.04 billion at the end of the quarter as compared to $2.71 billion a year ago.
While Tal’s top line took a hit from exchange rate gyrations and seasonality, its new business witnessed continuous development during this period.
Shares of the company have surged 136% over the past year and optimism remains in the air as China is finally emerging out of its Zero Covid policy. At the same time, short interest in the stock remains a tad high at about 9%.
Join our Webinar to learn how TipRanks promotes Wall Street transparency
Read full Disclosure
