New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2018 and Adoption of up to US$200 Million Share Repurchase Program

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Go back to New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2018 and Adoption of up to US$200 Million Share Repurchase Program

New Oriental Education (EDU) Misses Q1 EPS by 10c, Revenues Beat; Offers 2Q Revenue Outlook Below Consensus

October 23, 2018 5:46 AM EDT

New Oriental Education (NYSE: EDU) reported Q1 EPS of $1.16, $0.10 worse than the analyst estimate of $1.26. Revenue for the quarter came in at $859.8 million versus the consensus estimate of $851.12 million.

Michael Yu, New Oriental's Executive Chairman, commented, "We are very pleased to start fiscal year 2019 with a remarkable year-over-year acceleration in our top line growth rate at 30.1%, beating that of the same quarter of the previous year. This strong top-line growth was largely driven by the solid increase in student enrollments in the recent two quarters, which had a steady year-over-year increase of approximately 28%... More