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New Oriental Education & Technology Group Inc. reports recurring developments in its China private education business, including quarterly financial results, earnings call schedules and operating commentary across educational services and test preparation, overseas study consulting, educational materials and distribution, private label products, and livestreaming e-commerce. News also covers shareholder-return actions such as cash dividends and share repurchase programs.
The company is listed on the NYSE under EDU and on the Hong Kong Stock Exchange under 9901. Its NYSE-listed ADSs each represent ten common shares, and company announcements may include annual general meeting notices, voting results and ADR-related shareholder matters.
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New Oriental Education & Technology Group (NYSE: EDU) reported a strong financial performance for its third fiscal quarter ended February 28, 2023. Total net revenues rose by 22.8% year-over-year to US$754.2 million, driven primarily by educational business initiatives and East Buy's e-commerce offerings. Operating income saw a remarkable increase of 147.1% to US$66.5 million, while net income rose 166.7% to US$81.6 million. For the first nine months of FY2023, however, revenues decreased 17.2% compared to the previous year.
Looking forward, New Oriental expects Q4 revenues to range between US$801.8 million and US$822.7 million, a substantial year-over-year growth of 53% to 57%.
New Oriental Education and Technology Group Inc. (NYSE: EDU) announced it will release its financial results for the third quarter ending February 28, 2023, on April 19, 2023, before U.S. market opens. The earnings conference call is scheduled for 8 AM ET on the same day. Participants can join via a registered dial-in or a live webcast. New Oriental provides a wide range of educational services, including test preparation and online education, primarily in China. The company is listed on both NYSE and SEHK, with its American Depository Shares representing ten common shares.