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New Oriental Education Tech ( (EDU) ) has provided an update.
New Oriental Education & Technology Group Inc. reported a 19.4% year-over-year increase in total net revenues for the second fiscal quarter ended November 30, 2024, reaching $1,038.6 million. Despite a decline in operating income by 9.8%, the company’s new educational initiatives and focus on expanding its private label offerings have contributed to growth in various segments. The domestic test preparation business and new educational initiatives saw substantial growth, reflecting the company’s ongoing strategic focus on balancing growth and profitability. The company continues to invest in technological enhancements and capacity expansion to support its diverse educational offerings and improve the user experience.
More about New Oriental Education Tech
New Oriental Education & Technology Group Inc. is a provider of private educational services in China, with offerings that include overseas test preparation, overseas study consulting, and domestic test preparation for adults and university students. The company is expanding its educational business initiatives, encompassing non-academic tutoring and intelligent learning systems across multiple cities.
YTD Price Performance: -1.17%
Average Trading Volume: 1,542,811
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.82B
For an in-depth examination of EDU stock, go to TipRanks’ Stock Analysis page.
