Sunlands Technology Registers 3% Revenue Decline In Q3

by Shivani Kumaresan, Benzinga Staff Writer

November 23, 2022 9:26 AM | 1 min read | Make a Comment

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.