China's TAL Education Q2 revenue misses estimates
TAL•TAL Education's fiscal second-quarter revenue rose 15.5% year over year to $994.6 million, below the $1.08 billion analyst consensus. The company reported a $47.4 million net loss, declared a cash dividend and extended its share repurchase program.
1. Revenue and loss
TAL Education reported fiscal second-quarter revenue of $994.6 million, up 15.5% year over year and below the $1.08 billion consensus estimate. It posted a net loss of $47.4 million, reversing a profit from a year earlier.
2. Costs and capital returns
Selling and marketing expenses fell 15.3% year over year, while operating costs and expenses declined 0.8%. The company said other expense was mainly due to changes in the fair value of certain investments. TAL declared a cash dividend and extended its share repurchase program.
3. Company plans
TAL said it will focus on technology and educational expertise, strengthen its core businesses and enhance student learning experiences. It did not provide specific financial guidance for the coming quarter or full year.
