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TAL Education Q3'20 EPS misses estimates

Tutoring services provider TAL Education Group on Jan. 21 posted its third-quarter EPS that fell below analysts' forecasts.

The Chinese company's diluted non-GAAP EPS for the three-month period came in at 9 cents, down from 24 cents in the same quarter previous year. The S&P Global Market Intelligence consensus estimate for normalized EPS was 17 cents.

Non-GAAP net income was $58.3 million, down 60% from $145.8 million in the year-ago period.

TAL Education's revenues jumped 47.2% to reach $862.4 million, compared with $586 million in the year-ago period. Total student enrollments of normal priced long-term courses grew by 66% year over year to approximately 2,318,000.