New Oriental Education Reports Strong Earnings Growth in Q1

New Oriental Education & Technology Group has posted a significant increase in profit for its first quarter, surpassing analysts' expectations, according to a recent report. The company's revenue also showed robust growth, indicating a positive outlook.

Date: 23-10-2024

AI Rating: 8

New Oriental Education & Technology Group (EDU) has demonstrated strong financial performance in its first quarter. The profit increased notably to $245.43 million from $165.39 million in the same period last year. Additionally, the earnings per share (EPS) rose significantly to $1.48 from $0.99, which is a positive indicator of profitability.

Moreover, the adjusted earnings per share (EPS) of $1.60 exceeds the analysts' average expectation of $1.49 per share, which contributes to a favorable impression among investors.

The company's revenue showcased impressive growth, rising 30.5% to $1.435 billion compared to $1.100 billion in the prior year. This substantial revenue growth not only highlights the robust demand for services but also affirms the effectiveness of the company's operational strategies.

Furthermore, the guidance for the next quarter's revenue is projected between $851.4 million and $871.8 million, positioning the company for potentially sustained growth.

Overall, the reported earnings and revenue figures suggest a healthy financial trajectory for New Oriental, likely to positively impact stock prices in the near term.

Stocks: EDU