TAL reports $4.39 billion in net revenues in FY 2022
2022-04-30 15:33:05

TAL Education Group (NYSE: TAL), a smart learning solutions provider in China, announced its unaudited financial results for the fiscal year ended February 28, 2022.

1.pngThe company reported $4.39 billion in net revenues, a 2.3% year-over-year decrease. Loss from operations was $614.5 million, compared to $438.2 million in FY 2021. 

Operating costs and expenses were $5.03 billion, a 1.5% increase from $4.95 billion in FY 2021. 

The cost of revenues grew by 7.6% to $2.2 billion. Selling and marketing expenses decreased by 33.4% to $1.11 billion from $1.68 billion in FY 2021. 

Net loss attributable to TAL was $1.13 billion, compared to US$1.16 billion in FY 2021. Gross profit decreased by 10.6% to $2.18 billion in FY 2021. 

According to its announcement, TAL's board of directors has authorized to extend its share repurchase program launched in April 2021 by 12 months. 

The company has repurchased approximately $196.3 million of its American depositary shares under the share repurchase program and may repurchase up to approximately $803.7 million of its common shares through April 30, 2023.

 

 

 

 

 

 

 

 

 

 


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