RTTNews | Apr 22, 2021 08:09AM EDT

08:09 Thursday, April 22, 2021 (RTTNews.com) - Shares of Chinese online tutoring services provider TAL Education Group (TAL) are climbing more than 5% in pre-market trade on Thursday on better-than-expected fourth-quarter results.

Excluding items, adjusted loss of $0.14 per ADS in the fourth quarter beat the average estimate of analysts polled by Thomson Reuters at $0.15 loss per ADS.

The company, however, reported wider net loss of $169 million, compared with net loss of $90.1 million in the same period a year ago.

Net revenues for the quarter increased 58.9% year-over-year to $1.363 billion. The consensus estimate was for $1.2 billion.

Looking forward to the first-quarter, revenue is expected to be between $1.302 billion and $1.321 billion. Analysts expect revenue of $1.3 billion in the quarter.

TAL closed at $63, up 0.57% on Wednesday. The stock is currently at $66.39.

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