Welcome to our dedicated page for New Oriental Ed & Technology G news (Ticker: EDU), a resource for investors and traders seeking the latest updates and insights on New Oriental Ed & Technology G stock.
New Oriental Education and Technology Group Inc. (NYSE: EDU; SEHK: 9901) is a provider of private educational services in China whose news flow is closely tied to its diverse education and e-commerce activities. Company announcements regularly describe a wide range of educational programs, services and products, including educational services and test preparation courses, private label products and livestreaming e-commerce, overseas study consulting services, and educational materials and distribution.
On this page, readers can follow news related to New Oriental’s quarterly and annual financial results, which are typically released through detailed earnings press releases and furnished to the SEC on Form 6-K. These updates discuss net revenues, operating income, net income attributable to New Oriental, non-GAAP financial measures, operating margins and cash flow, as well as operating highlights such as the performance of overseas test preparation, overseas study consulting, domestic test preparation for adults and university students, and new educational business initiatives.
New Oriental’s news also covers technology and product developments such as its OMO (online-merge-offline) teaching system, intelligent learning systems and devices, and the integration of AI technologies into its education ecosystem, including AI-powered Intelligent Learning Devices and AI-driven Smart Study Solutions. The company provides operating metrics on student enrollments in non-academic tutoring courses and active paid users of intelligent learning devices across dozens of cities in China.
In addition, investors can track capital allocation and governance updates, including the three-year shareholder return plan, ordinary cash dividends, share repurchase programs, notices of annual general meetings, and results of shareholder votes, as disclosed in press releases and related filings. For those following EDU, revisiting this news feed provides a consolidated view of New Oriental’s financial performance, operational trends, technology initiatives and shareholder-related announcements over time.
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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.
New Oriental Education & Technology Group (NYSE: EDU) reported its fiscal Q2 2023 results, showing a 3.1% decline in net revenues to US$638.2 million. Operating loss narrowed significantly to US$2.5 million from a loss of US$768.1 million year-over-year. Net income was US$0.7 million compared to a net loss of US$936.5 million last year. The company achieved a non-GAAP operating profit of US$16.3 million. Despite the revenue decline due to government policy changes, educational new initiatives, especially in non-academic tutoring, demonstrated growth with 477,000 enrollments. For Q3 FY2023, revenues are expected between US$702.8 million and US$719.8 million.