TAL Education Group announced unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2018. For the quarter, the company reported net revenue was $585,991,000 against $433,265,000 a year ago. Income from operations was $70,996,000 against $44,597,000 a year ago. Interest income was $13,507,000 against $8,249,000 a year ago. Net income was $123,665,000 against $39,618,000 a year ago. Net income per common share - basic was $0.65 against $0.23 a year ago. Net income per common share - diluted was $0.62 against $0.21 a year ago. Net income per ads - basic was $0.22 against $0.08 a year ago. Net income per ads - diluted was $0.21 against $0.07 a year ago.

For the nine months, the company reported net revenue was $1,836,423,000 against $1,210,918,000 a year ago. Income from operations was $226,876,000 against $141,728,000 a year ago. Interest income was $49,329,000 against $26,484,000 a year ago. Net income was $266,161,000 against $126,194,000 a year ago. Net income per common share - basic was $1.41 against $0.73 a year ago. Net income per common share - diluted was $1.34 against $0.66 a year ago. Net income per ads - basic was $0.47 against $0.24 a year ago. Net income per ads - diluted was $0.45 against $0.22 a year ago.

Based on the Company's current estimates, total net revenues for the fourth quarter of fiscal year 2019 are expected to be between $670.5 million and $685.6 million, representing an increase of 33% to 36% on a year-over-year basis. If not taking into consideration the impact of potential change in exchange rate between Renminbi and the U.S. Dollar, the projected revenue growth rate is expected to be in the range of 40% to 43% for the fourth quarter of fiscal year 2019.

For the quarter, the company's Impairment loss on long-term investments was $41.1 million compared to $1.5 million a year ago.