New Oriental Education & Technology Group Records 48% Higher Attributable Income in Fiscal Q1

MT Newswires Live10-23

New Oriental Education & Technology Group (HKG:9901) recorded a net income attributable to shareholders of $245.4 million for the fiscal first quarter, 48.4% higher than $165.4 million logged for the year-ago period, a Wednesday Hong Kong bourse filing said.

The company's net income per share attributable to shareholders stood at $0.15 for the three months ended Aug. 31, compared with $0.10 from last year.

The net income per American depository share for the period stood at $1.48, compared with $0.99 a year ago.

The private educational services provider booked net revenues of $1.44 billion during the reporting period, 30.5% higher than $1.10 billion logged for the same period last year.

The company's shares closed nearly 3% lower on Wednesday.

Price (HKD): $50.05, Change: $-1.5, Percent Change: -2.82%

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