Sunlands Technology rises on Q3 profit vs year-ago loss

Sunlands Technology

23/11/2021 17:47

** Shares of Chinese online education co  STG.N  up ~19% at
$4.36 after strong Q3 results 
    ** STG top gainer among NYSE listed stocks 
    ** Co reported net income of 92.8 mln yuan ($14.52 mln) in
Q3 compared to net loss of 165.8 mln yuan a year earlier 
    ** Net rev grew ~10% y/y to 595.1 mln yuan 
    ** New student enrollments, however, declined 33.8% y/y to
93,265
    ** STG expects Q4 rev to be between 590 mln yuan and 610 mln
    ** YTD, shares down ~68%


($1 = 6.3910 Chinese yuan renminbi)

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))