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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.