Source: Zhitong Finance and Economics

Before the opening of US stocks on Thursday, January 19$TAL Education (TAL.US)$Announced the results for the third quarter of fiscal year 2023. The company reported net revenue of $233 million, down 77.2% from a year earlier; a net loss of $51.58 million attributable to the company, compared with $99.37 million a year earlier; a basic and diluted loss of $.08 per ADS; and a loss of $0.15 per ADS in the same period last year.

TAL Education Group's third-quarter gross profit was $130 million, down 74.1% from a year earlier, while its operating loss was $32.9 million, compared with $108.4 million in the same period last fiscal year.

In the third quarter of fiscal year 2023, TAL Education Group's operating costs and expenses were US $266 million, down 76.6% from the same period last year.

As of November 30, 2022, the company had $1.8609 billion in cash and cash equivalents and $1.1796 billion in short-term investments, totaling $3.0405 billion.

The company's deferred revenue balance as of November 30, 2022 was $270.1 million, compared with $187.7 million as of February 28, 2022.

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