摩根大通指出，新东方在新一季出现了历史新高的利润，尽管受到东方甄选的拖累，运营利润仍达到3亿美元，而核心教育业务的运营利润同比增长47%，达到7年来的最高利润率。该行预计新东方即将发布的11月季度业绩将满足市场预期，无论是在收入或运营利润率。JPMorgan expects that in the 2025 fiscal year, New Oriental's revenue and operating profit will increase by approximately 30% and 40% respectively.
According to the Securities Times APP, JPMorgan released a research report stating that New Oriental-S (09901) core business continues to show strong growth, with revenue and operating profit expected to increase by approximately 30% and 40% in the 2025 fiscal year. The bank rates New Oriental as a "shareholding" with a target price of 66 Hong Kong dollars.
The report points out that in the past 9 quarters, New Oriental has consistently exceeded its revenue guidance, but in the recent quarters, the extent of exceeding guidance has narrowed, disappointing investors. In addition, New Oriental's profit margin has been lower than market expectations in the past 3 quarters.
JPMorgan noted that New Oriental achieved record high profits in the new quarter, with operating profit reaching $0.3 billion, despite being affected by East Buy. The operating profit of the core education business showed a year-on-year increase of 47%, achieving the highest profit margin in 7 years. The bank expects that New Oriental's upcoming November quarter performance will meet market expectations, whether in terms of revenue or operating profit margin.
