New Oriental Education & Technology press release: FQ1 Non-GAAP EPS of $0.48 beats by $0.15.
Revenue of $744.82M (-43.1% Y/Y) beats by $55.74M.
The total number of schools and learning centers was 706 as of August 31, 2022, a decrease of 38 and 850 compared to 744 as of May 31, 2022 and 1,556 as of August 31, 2021, respectively. The total number of schools was 98 as of August 31, 2022.
The company expects total net revenues in FQ2 to be in the range of $601.4M to $619.2M, representing Y/Y decline in the range of 9% to 6% vs. consensus of $576.57M.
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