Tarena International, Inc. (TEDU), a provider of adult, adolescent, and childhood professional education services in China, on Friday, posted a decreased loss for the second quarter of the fiscal year 2021, as revenue surged, driven by higher revenue from adult professional education business.
The Beijing-headquartered company reported a loss of RMB76.7 million for the three-month period ended in June, compared to a loss of RMB267.6 million reported in the same period of 2020. Loss per class A and class B ordinary share was RMB1.39 per share, narrower than RMB4.92 last year.
Excluding share-based compensation expenses, the educational service provider’s loss reduced to RMB72.5 million from RMB255.4 million, and loss per share decreased to RMB1.32 from RMB4.70 per share for the thirteen-week period ended on June 30, 2020.
For the June quarter, the Chinese company’s loss per ADS was posted at RMB1.39, versus loss per ADS of RMB4.92, recorded during the same 90-day period of last fiscal.
The operating loss of the company was at RMB90.7 million for the second quarter, compared to a loss of RMB294.9 million in the same quarter of last year.
Amidst a rise in demand for online educational services during the Covid-19 pandemic, total net revenue of the Asian firm surged by 75.5 percent to RMB582.3 million, from RMB331.8 million recorded for the same thirteen-week period last fiscal.
Net revenue from the adult professional education business increased by 22.3 percent to RMB292.9 million, primarily due to higher class consumption rate and the alleviation of the negative impact from Covid-19 in the second quarter of 2021. Net revenue from childhood and adolescent quality education business increased by 213.2 percent to RMB289.4 million.
After considering the seasonal fluctuation factor and the likely continued impact of the pandemic, Tarena International said, it expects its third-quarter total revenue in the range of RMB600 million – RMB630 million.
Source: Read Full Article