New Oriental Education (EDU) Announces Up to $200M Share Buyback Authorization

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Go back to New Oriental Education (EDU) Announces Up to $200M Share Buyback Authorization

New Oriental Education (EDU) Founder & Executive Chairman Michael Minhong Yu to Commence Max $30M ADS Buyback Over Next Three Months

October 25, 2018 8:01 AM EDT

New Oriental Education and Technology Group Inc. (NYSE: EDU) today announced that its founder and executive chairman Michael Minhong Yu has informed the Company of his intention to use his personal funds to purchase the Company's American depositary shares ("ADS") on... More

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