Wah Fu Education Group (WAFU) has released an update.
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Wah Fu Education Group Ltd., an online education service provider, reported a significant decline in financial results for the first half of FY2024, with a 33.1% decrease in revenue and a 26% drop in gross profit compared to the same period last year. The downturn was attributed to reduced revenue from one of their course offerings, leading to a sharper decline in operating income and net income. Despite these challenges, the company still managed to generate a net income of $0.13 million and maintained a cash reserve of $11.42 million as of September 30, 2023.
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