TAL: Attendee Capacity Growth Driving Better FY3Q21 Topline Results; Marketing For Online Education Business Continues To Soar
TAL will report FY3Q21 results on January 21st before the markets open with an 8am EST conference call. We are positive on TAL’s FY3Q21 performance. In FY3Q21, we believe TAL is likely to benefit from the higher growth of the number of normal-price courses and associated attendees in Peiyou as well as its continuing efforts in online expansions. Based on our data and calculations, we believe the company’s FY3Q21 revenue is likely to be higher than consensus at $1,030M (24.4% Y/Y growth vs. company’s guidance of 28% - 32% Y/Y growth) and our estimate, and likely to come in towards the higher-end of guidance.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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