Tuesday, New Oriental Education and Technology Group Inc. (EDU) said its second-quarter GAAP net income declined to US$1.10 million or US$0.01 per share from US$3.06 million or US$0.02 per share in the prior year period. GAAP net income per ADS was US$0.03, lower than US$0.08 in the earlier period.
Non-GAAP net income for the quarter decreased to US$5.47 million from US$7.37 million in the year-ago period. Non-GAAP net income per ADS was US$0.14, down from US$0.19 in the same period last year. On average, 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share for the quarter.
Net revenues for the quarter increased to US$61.19 million from US$49.43 million in the comparable period. Six analysts estimated revenues of $61.83 million for the quarter.
New Oriental expects third-quarter total net revenues to be in the range of US$82.5 million - US$85.1 million, representing year-over-year growth in the range of 26% - 30%,respectively. Six analysts estimate revenues of US$86.77 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.