- New Oriental Education & Technology press release ( NYSE: EDU ): Q2 Non-GAAP EPADS of $0.10 beats by $0.01 .
- Revenue of $638.2M (-3.1% Y/Y) beats by $24.04M .
- The total number of schools and learning centers was 708 as of November 30, 2022, an increase of 2 compared to 706 as of August 31, 2022 and a decrease of 585 compared to 1,293 as of November 30, 2021, respectively. The total number of schools was 95 as of November 30, 2022.
- New Oriental expects total net revenues in the third quarter of the fiscal year 2023 (December 1, 2022 to February 28, 2023) to be in the range of US$702.8 million to US$719.8 million vs. consensus of $672.36M, representing year-over-year increase in the range of 14% to 17%.
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The projected increase of revenue in our functional currency Renminbi is expected to be in the range of 24% to 27% for the third quarter of the fiscal year 2023.
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New Oriental Education & Technology reports Q2 earnings beat; guides Q3 revenue above estimates