New Oriental Education & Technology Group Second Quarter 2024 Earnings: Beats Expectations
New Oriental Education & Technology Group (NYSE:EDU) Second Quarter 2024 Results
Key Financial Results
Revenue: US$869.6m (up 36% from 2Q 2023).
Net income: US$30.1m (up by US$29.3m from 2Q 2023).
Profit margin: 3.5% (up from 0.1% in 2Q 2023). The increase in margin was driven by higher revenue.
EPS: US$0.20 (up from US$0.004 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
New Oriental Education & Technology Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 83%.
Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Services industry in the US.
Performance of the American Consumer Services industry.
The company's shares are up 1.5% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of New Oriental Education & Technology Group's balance sheet and an in-depth analysis of the company's financial position.
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