Summary by Moomoo AI
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 third fiscal quarter ended February 29, 2024. The company announced unaudited financial results, revealing a 60.1% year-over-year increase in total net revenues, reaching US$1,207.3 million. Operating income saw a substantial rise of 70.6% to US$113.4 million, while net income attributable to New Oriental grew by 6.8% to US$87.2 million. The company's growth was primarily driven by its educational new business initiatives and East Buy private label products and livestreaming e-commerce business. New Oriental also reported an expansion in the number of schools and learning centers to 911, reflecting an increase in both domestic and overseas student...Show More