TAL Education Stock Slides After 8.8% Decline In Q3 Revenue

• TAL Education Group (NYSE:TAL) reported a third-quarter FY22 sales decline of 8.8% year-on-year, to $1.02 billion.
• Operating costs and expenses declined 9.3% Y/Y to $1.13 billion.
• The gross profit decreased 16.9% Y/Y to $501.4 million with a gross margin of 49.1%.
• The company’s loss from operations narrowed to $(108.4) million in the quarter.
• The company held $3.9 billion in cash and equivalents as of November 30, 2021.
• EPS loss was $(0.15) versus $(0.07) in the previous year.
• Price Action: TAL shares are trading lower by 5.67% at $3.16 in premarket on the last check Tuesday.