Why OneSmart Stock Looks Brilliant Today
Shares of OneSmart International Education Group (NYSE: ONE) are looking brilliant today, up by 29% as of 1:05 p.m. EDT, after the company reported fiscal third-quarter earnings. OneSmart swung to a loss but investors are optimistic now that the company's learning centers are reopening.
Revenue in the fiscal third quarter fell 32% to 744.9 million yuan ($104.4 million). That resulted in an adjusted net loss of 416.1 million yuan ($58.3 million), compared to a profit of 125.1 million yuan a year ago. The Chinese consumer discretionary company, which provides tutoring services to students, said that all of its physical learning centers were closed until public school activities resumed in late May. OneSmart's fiscal quarter ended May 31 and it started to reopen its learning centers in June.
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Source Fool.com
