New Oriental Education & Technology Group Delivers Impressive Q3 Results, Outperforming Analyst Expectations but Falling Short on EPS
New Oriental Education & Technology Group (NYSE: EDU) recently released its third-quarter results for 2024, showcasing impressive growth in key financial metrics. Revenue increased by an astounding 60% from the same quarter in 2023, reaching a staggering US$1.21 billion. Net income also rose by 6.8% to US$87.2 million, although the profit margin decreased from 11% in 3Q 2023 to 7.2% in the current quarter due to higher expenses. Earnings per share (EPS) increased to US$0.53 from US$0.49 in the previous year.
The company’s performance exceeded analyst expectations in terms of revenue, surpassing estimates by a massive 11%. However, EPS fell short of analyst estimates by just as much, leaving investors feeling slightly disappointed.
Looking ahead, New Oriental Education & Technology Group is forecasted to achieve an average annual revenue growth of an impressive 17% over the next three years, outpacing the 11% growth forecast for the Consumer Services industry in the US.
Despite the positive financial results, New Oriental Education & Technology Group’s shares experienced a slight decline of just over 2% from the previous week. To gain a comprehensive understanding of a company’s financial health and overall position, it is crucial to analyze its balance sheet along with its profit and loss statement.
For those interested in conducting a thorough analysis of New Oriental Education & Technology Group’s financial position and valuation, there are several resources available. A free analysis can be accessed on Simply Wall St that provides unbiased commentary based on historical data and analyst forecasts.
It is important to note that this content should not be considered as financial advice and does not take into account individual objectives or financial situations. Investors should conduct their own research before making any investment decisions.
