Stock Alert: TAL Education Group Up 19% As Revenue Beats View

(RTTNews) - Shares of Chinese after-school tutoring services provider TAL Education Group (TAL) are rising more than 19% Thursday morning after reporting better-than-expected third quarter revenue.

Net revenues in the third quarter increased 35% year-over-year to $1.119 billion, beating the average estimate of analysts polled by Thomson Reuters at $1.03 billion.

Net loss was $43.6 million in the quarter, compared to net income of $19.6 million in the same period of the prior year.

Earnings on an adjusted basis of $0.02 per share, however, missed the consensus estimate of $0.07 per share.

Looking forward to the fourth quarter, TAL Education sees revenue in the range of $1.175 billion to $1.201 billion. The consensus estimate stands at $1.17 billion.

TAL, currently at $80.80, has traded in the range of $44.24- $83.68 in the past one year.