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New Oriental Education & Technology Q2 Profit Tops Estimates; Net Revenues Up 13.1%

New Oriental Education & Technology Group Inc. (EDU) reported second-quarter adjusted profit per ADS of $0.43 compared to $0.36, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.34, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter revenue increased to $887.69 million from $785.21 million, a year ago. Analysts expected revenue of $885.6 million, for the quarter. Total student enrollments in academic subjects tutoring and test preparation courses increased by 10.4% year-over-year to approximately 4,183,100.

New Oriental projects third quarter total net revenues to be in the range of $1.10 billion to $1.15 billion, year-over-year growth in the range of 19% to 24%.

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