TAL Education ADSs Rise After 4Q Earnings Beat Expectations

Dow Jones04-26

By Stephen Nakrosis

The American depositary shares of China's TAL Education Group were trading in the green on Thursday, after the company reported financial results for the fourth quarter that surpassed some analysts' expectations.

With about 30 minutes left in the trading day, the ADSs were 9.1% higher at $13.37, a one-month high. Volume surpassed 11.1 million, above the 65-day average volume of some 7.3 million.

Before the bell, TAL reported diluted net income per ADS of 4 cents on revenue of $429.6 million. Analysts had expected a loss per ADS of 2 cents on revenue of $385.8 million, according to Fact Set.

In the year-ago period, the company reported a loss per ADS of 6 cents on revenue of $269 million.

TAL said each ADS represents three ordinary shares of its stock.

For fiscal year 2024, the company reported a net loss of $3.6 million on revenue of $1.49 billion. In fiscal year 2023, the company reported a net loss of $135.6 million on revenues of $1.01 billion.

TAL said it is a smart learning solutions provider in China.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 25, 2024 15:48 ET (19:48 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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