New Oriental Education reports Q1 EPS $1.60, consensus $1.49

Reports Q1 revenue $1.44B, consensus $1.44B. Michael Yu, New Oriental’s executive chairman, commented, “We are delighted to start our fiscal year 2025 with a healthy top line growth of 30.5%. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 33.5% year over year. Our overseas test preparation and overseas study consulting business increased by approximately 18.8% and 20.7% year over year, respectively. In addition, the domestic test preparation business targeting adults and university students recorded a growth of approximately 30.4% year over year. Furthermore, our new educational business initiatives have all sustained strong momentum in this fiscal quarter, with a revenue growth of 49.8% year over year. Among these initiatives, our non-academic tutoring courses were offered in around 60 cities, attracting approximately 484,000 student enrollments in this fiscal quarter. Simultaneously, our intelligent learning system and devices were adopted in around 60 cities, with approximately 323,000 active paid users in this fiscal quarter. Backed by our strong educational resources, we will make consistent efforts in executing our long-term vision to strike a balance between healthy and sustainable growth, while improving profitability that is supported by our enhanced service quality and operating efficiency.”