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New Oriental Education & Technology Group Inc. (New Oriental), a leading provider of private educational services in China, reported a significant increase in financial performance for the second fiscal quarter ended November 30, 2023. The company announced unaudited financial results, revealing a 36.3% year-over-year increase in total net revenues, reaching US$869.6 million. Notably, the operating income for the quarter was US$21.3 million, a substantial improvement from a loss of US$2.5 million in the same period of the previous fiscal year. Net income attributable to New Oriental saw an extraordinary rise of 4,007.4% year over year to US$30.1 million. The company's growth was driven by its educational new business initiatives and East Buy private label products and livestreaming e-commerce business. New Oriental...Show More
New Oriental Education & Technology Group Inc. (New Oriental), a leading provider of private educational services in China, reported a significant increase in financial performance for the second fiscal quarter ended November 30, 2023. The company announced unaudited financial results, revealing a 36.3% year-over-year increase in total net revenues, reaching US$869.6 million. Notably, the operating income for the quarter was US$21.3 million, a substantial improvement from a loss of US$2.5 million in the same period of the previous fiscal year. Net income attributable to New Oriental saw an extraordinary rise of 4,007.4% year over year to US$30.1 million. The company's growth was driven by its educational new business initiatives and East Buy private label products and livestreaming e-commerce business. New Oriental's expansion included an increase in the total number of schools and learning centers to 843, up from 793 as of August 31, 2023. The company's board of directors authorized a share repurchase program extension through May 31, 2024, with approximately 6.0 million ADSs repurchased for about US$194.2 million as of January 23, 2024. Looking ahead, New Oriental forecasts total net revenues for the third quarter of fiscal year 2024 to increase by 42% to 45% year over year. The company's management remains confident in sustaining healthy growth and operational efficiency moving forward.
中国领先的私立教育服务提供商新东方教育科技集团有限公司（新东方）报告称，截至2023年11月30日的第二财季财务业绩大幅增长。该公司公布了未经审计的财务业绩，显示总净收入同比增长36.3％，达到8.696亿美元。值得注意的是，该季度的营业收入为2,130万美元，与上一财年同期的250万美元亏损相比有了显著改善。归属于新东方的净收益同比惊人地增长了4,007.4％，达到3,010万美元。该公司的增长是由其教育新业务计划以及East Buy自有品牌产品和直播电子商务业务推动的。新东方的扩张包括将学校和学习中心的总数从2023年8月31日的793所增加到843个。公司董事会批准将股票回购计划延长至2024年5月31日，截至2024年1月23日，以约1.942亿美元的价格回购了约600万股美国存托凭证。展望未来，新东方预测2024财年第三季度的总净收入将同比增长42％至45％。公司的管理层仍然有信心在未来保持健康的增长和运营效率。
中国领先的私立教育服务提供商新东方教育科技集团有限公司（新东方）报告称，截至2023年11月30日的第二财季财务业绩大幅增长。该公司公布了未经审计的财务业绩，显示总净收入同比增长36.3％，达到8.696亿美元。值得注意的是，该季度的营业收入为2,130万美元，与上一财年同期的250万美元亏损相比有了显著改善。归属于新东方的净收益同比惊人地增长了4,007.4％，达到3,010万美元。该公司的增长是由其教育新业务计划以及East Buy自有品牌产品和直播电子商务业务推动的。新东方的扩张包括将学校和学习中心的总数从2023年8月31日的793所增加到843个。公司董事会批准将股票回购计划延长至2024年5月31日，截至2024年1月23日，以约1.942亿美元的价格回购了约600万股美国存托凭证。展望未来，新东方预测2024财年第三季度的总净收入将同比增长42％至45％。公司的管理层仍然有信心在未来保持健康的增长和运营效率。
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