TAL Education Q3 Loss Widens

(RTTNews) - TAL Education Group (TAL) reported that its third quarter net loss attributable to the company widened to US$99.4 million or US$0.15 per ADS from US$43.6 million or US$0.07 per ADS last year.

Non-GAAP net loss attributable to the company, which excluded share-based compensation expenses, was US$58.6 million or US$0.09 per ADS, compared to net income of US$10.4 million or US$0.02 per ADS in the third quarter of fiscal year 2021.

Loss from operations was US$108.4 million, compared to loss from operations of US$127.4 million in the same period of the prior year.

Quarterly net revenues were US$1.02 billion, an 8.8% decrease from US$1.12 billion in the third quarter of fiscal year 2021.