On January 25th, TAL Education released its unaudited financial report for the third quarter of the 2024 fiscal year as of November 30, 2023. In the third quarter of fiscal year 2024, TAL's net income was $374 million, a year-on-year increase of 60.5%. The operating loss was 32.185 million US dollars, compared to 32.882 million US dollars in the same period last year. In the first three quarters of fiscal year 2024, the company's net income was $1.061 billion, a year-on-year increase of 41.3%.
As of November 30, 2023, the total balance of TAL cash, cash equivalents, and short-term investments was $3.168 billion. "In this past fiscal quarter, we have continued to operate our core business while exploring additional development opportunities," said Peng Zhuangzhuang, President and Chief Financial Officer of TAL. In addition, we recognize the potential for change in our business operations brought about by the new technology wave and will leverage its power to serve our customers.