- Sunlands Technology Group STG reported a third-quarter FY22 sales decline of 3.2% year-on-year to $81.00 million. EPS for the quarter was $3.38.
- Gross billings for the quarter decreased 21% Y/Y to RMB365.5 million ($51.4 million).
- Gross profit for the quarter fell 4% to RMB491.3 million ($69.1 million), with a margin of 85.2%.
- Operating expenses for the quarter fell 24.5% to RMB325.0 million ($45.7 million).
- New student enrollment jumped 44.7% Y/Y to 134,987.
- The company held $119.3 million in cash and equivalents as of September 30, 2022.
- Outlook: Sunlands sees Q4 revenue of RMB520 million - RMB540 million, an 8.3% - 11.7% decrease Y/Y.
- Price Action: STG shares are trading higher by 1.01% at $4.00 in premarket on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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