TAL Education Q2 Profit Surges As Revenue Jumps 42%

(RTTNews) - TAL Education Group (XRS) Thursday said its second-quarter attributable profit increased to $63.5 million from $29.1 million reported last year.

ADS per share was $0.72, compared to $0.34 last year. Each ADS represents two Class A common shares.

Adjusted ADS per share totaled $0.78, while it amounted to $0.39 last year. On average, three analysts polled by Thomson Reuters expected earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased 41.6 percent to $173.3 million from $122.4 million in the same period of the prior year. Analysts expected revenues of $162.53 million.

Total student enrollments increased 54.8 percent to 631,430 from 407,970 in the same period of the prior year.

Looking ahead, total net revenues for the third quarter are expected to grow 40 to 43 percent on a year-over-year basis, in RMB terms. It is expected to be between $135.1 million and $138.1 million. Wall Street looks for revenues of $116.27 million.