New Oriental Education Technology Group announced its fiscal 2024 second quarter financial results, with net revenue growth of 36.3% year-on-year to $869.6 million. Operating profit translated from a $2.5 million loss in the same period last year to a profit of $21.3 million, and New Oriental shareholders accounted for a significant increase of 4,007.4% year-on-year to $30.1 million. The Company implemented a share repurchase program between July 26, 2022 and May 31, 2024, and has repurchased approximately 6.0 million shares of US Depository Shares for a total value of approximately $194.2 million. In addition, the company expects net revenue for the third quarter of fiscal 2024 to reach $1,070.9 million to $1,093.5 million, a year-over-year growth rate of 42% to 45%. New Oriental management will hold a conference call to announce the results on January 24, 2024.

New Oriental Education Technology Group announced its fiscal 2024 second quarter financial results, with net revenue growth of 36.3% year-on-year to $869.6 million. Operating profit translated from a $2.5 million loss in the same period last year to a profit of $21.3 million, and New Oriental shareholders accounted for a significant increase of 4,007.4% year-on-year to $30.1 million. The Company implemented a share repurchase program between July 26, 2022 and May 31, 2024, and has repurchased approximately 6.0 million shares of US Depository Shares for a total value of approximately $194.2 million. In addition, the company expects net revenue for the third quarter of fiscal 2024 to reach $1,070.9 million to $1,093.5 million, a year-over-year growth rate of 42% to 45%. New Oriental management will hold a conference call to announce the results on January 24, 2024.