TAL Education Group (ADR) (NYSE: TAL) is having an overwhelmingly strong day in the market today, and for good reason. The company announced its unaudited financial results for the third quarter of fiscal year 2018. As you could imagine, the results were positive, leading to sharp gains in the value of the stock. Today, we’ll talk about the results, what we’re seeing from the stock, and what we’ll be watching for ahead.
TAL Announces Unauded Third Quarter Results
As mentioned above, TAL Education Group is having an incredibly strong day in the market after announcing unaudited results for the third quarter of fiscal 2018. Here’s what we saw from the report:
- Net Revenue – In terms of net revenue TAL did overwhelmingly well. During the quarter, the company saw an increase of 66.3% year over year. During the third quarter, the company generated $433.3 million in net revenue, up from $260.6 million.
- Income – The company also said that income from operations grew by 102.1%. During the quarter, income from operations came in at $44.6 million, up from $22.1 million year over year.
- Income Per Share – In terms of income per share, TAL didn’t disappoint. during the quarter, basic and diluted net income per American Depositary Share came in at $0.08 and $0.07, respectively. The company also said that Non-GAAP basic and diluted net income per ADS, excluding share-based compensation expenses, came in at $0.10 and $0.09, respectively.
In a statement, Mr. Rong Luo, CFO at TAL, had the following to offer:
I am pleased that we managed to maintain our growth momentum, driven by the robust enrollment growth from the classroom capacity we added earlier in previous quarters. The year-over-year revenue growth of 66.3% was supported by 85.0% enrollment growth across all cities.
As our longstanding track record shows, TAL has deeply committed to exploring the possibilities of technology-based education reform. We will continue to run pilots in AI and other cutting-edge areas of EDTECH, to create innovative ways to better serve our customers.
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