Stock Alert: OneSmart International Education Up 13% On Seeing Higher Revenue

(RTTNews) - Shares of OneSmart International Education Group Ltd. (ONE) are rising more than 13 percent or $0.72 in Wednesday's morning trade at $6.14, after the China-based tutoring service provider projected higher revenues for the fourth quarter and also affirmed its full-year revenue outlook.

Tuesday, OneSmart International reported third-quarter net loss of 454.06 million yuan or $63.6 million, compared to net income of 109.50 million yuan in the year-ago quarter. Net revenues fell 31.9 percent to 744.92 million yuan from 1.09 billion yuan last year.

For the fourth quarter, the company expects net revenues in a range of 900 million yuan to 1 billion yuan, representing a sequential increase of 21 percent to 34 percent. The company confirmed its full-year revenue guidance of 3.33 billion yuan to 3.43 billion yuan.

OneSmart International has traded in a range of $3.55 to $7.88 in the past 52 weeks.