EDU - New Oriental Stock Takes Off After Q2 Surge Smashing Revenue Expectations | Benzinga
New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares are trading higher on Wednesday.
The company reported second-quarter revenue of $869.60 million, rising 36.3% year over year. Revenues beat the analyst consensus of $814.07 million.
The growth was mainly driven by increase in net revenues from the company’s educational new business initiatives and East Buy private label products and livestreaming e-commerce business.
The company reported adjusted net income per ADS of $0.29, in line with the analyst consensus.
Operating income was $21.3 million, compared to a loss of $(2.5) million in ...