Glonghui, January 25 | Morgan Stanley released a report saying that New Oriental's revenue for the second fiscal quarter of 2024 ended November last year was US$870 million, up 36.3% year-on-year, 7% higher than market forecasts. Non-GAAP (non-GAAP) net profit of US$50.2 million was 8% higher than market forecasts, and meant a non-GAAP profit margin of 5.8%. According to the report, the company's guidance for the third fiscal quarter is strong, with expected revenue rising 42% to 45% year-on-year to 1.07 billion US dollars to 1.07 billion US dollars, which is 14% to 17% higher than market forecasts. The US stock rating is “increased holdings”, and the target price is 81 US dollars.