New Oriental (EDU) Q2 Earnings Beat Estimates, Margins High
Zacks Investment Research | Jan 20, 2020 08:36PM ET
New Oriental Education & Technology Group Inc. (NYSE:EDU) reported better-than-expected earnings in second-quarter fiscal 2020 (ended Nov 30, 2019). The bottom line not only outpaced the Zacks Consensus Estimate but also grew on a year-over-year basis.
During the quarter under review, the company reported adjusted earnings of 36 cents per ADS, surpassing the consensus estimate of 23 cents by 56.5%. Also, the reported figure increased a whopping 147.3% on a year-over-year basis, backed by Optimize the Market strategy and capacity expansion in potential cities.
Delving Deeper
Total revenues during the quarter totaled $785.2 million, which grew 31.5% from the year-ago period. The K-12 after-school tutoring business remained strong and achieved year-over-year revenue growth of nearly 46%. Also, U-Can middle and high school all-subjects after-school tutoring business grew 43%, and the POP Kids program rose 51% year over year.
New Oriental Education & Technology Group, Inc. Price, Consensus and EPS Surprise
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