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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.
中國領先的私立教育服務提供商新東方教育科技集團有限公司（新東方）報告稱，截至2023年11月30日的第二財季財務業績大幅增長。該公司公佈了未經審計的財務業績，顯示總淨收入同比增長36.3％，達到8.696億美元。值得注意的是，該季度的營業收入爲2,130萬美元，與上一財年同期的250萬美元虧損相比有了顯著改善。歸屬於新東方的淨收益同比驚人地增長了4,007.4％，達到3,010萬美元。該公司的增長是由其教育新業務計劃以及East Buy自有品牌產品和直播電子商務業務推動的。新東方的擴張包括將學校和學習中心的總數從2023年8月31日的793所增加到843個。公司董事會批准將股票回購計劃延長至2024年5月31日，截至2024年1月23日，以約1.942億美元的價格回購了約600萬股美國存託憑證。展望未來，新東方預測2024財年第三季度的總淨收入將同比增長42％至45％。公司的管理層仍然有信心在未來保持健康的增長和運營效率。
中國領先的私立教育服務提供商新東方教育科技集團有限公司（新東方）報告稱，截至2023年11月30日的第二財季財務業績大幅增長。該公司公佈了未經審計的財務業績，顯示總淨收入同比增長36.3％，達到8.696億美元。值得注意的是，該季度的營業收入爲2,130萬美元，與上一財年同期的250萬美元虧損相比有了顯著改善。歸屬於新東方的淨收益同比驚人地增長了4,007.4％，達到3,010萬美元。該公司的增長是由其教育新業務計劃以及East Buy自有品牌產品和直播電子商務業務推動的。新東方的擴張包括將學校和學習中心的總數從2023年8月31日的793所增加到843個。公司董事會批准將股票回購計劃延長至2024年5月31日，截至2024年1月23日，以約1.942億美元的價格回購了約600萬股美國存託憑證。展望未來，新東方預測2024財年第三季度的總淨收入將同比增長42％至45％。公司的管理層仍然有信心在未來保持健康的增長和運營效率。
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