New Oriental Education & Technology Group (NYSE: EDU) has released its third-quarter financial results for 2024, showcasing significant growth in key metrics. The company’s revenue increased by a staggering 60% from the same quarter in 2023, reaching a record-breaking US$1.21 billion. Additionally, net income rose by 6.8%, reaching US$87.2 million. However, the profit margin decreased slightly from 11% in 3Q 2023 to 7.2% in the current quarter due to higher expenses.
Despite experiencing a slight decline of 2.0% from the previous week, New Oriental Education & Technology Group’s performance exceeded analyst expectations in terms of revenue, surpassing estimates by an impressive 11%. On the other hand, earnings per share (EPS) fell short of analyst estimates by only a small margin of just 11%. Looking ahead, New Oriental Education & Technology Group is forecasted to achieve an average annual revenue growth rate of an impressive 17% over the next three years, outpacing the predicted growth rate of just 11% for the Consumer Services industry in the US as a whole.
A balance sheet analysis can offer valuable insights into a company’s financial health and overall position. When evaluating New Oriental Education & Technology Group’s balance sheet alongside its profit and loss statement, it becomes clear that despite strong financial results, there are still areas that require attention to maintain long-term stability and growth opportunities.
For those interested in conducting a more comprehensive analysis of New Oriental Education & Technology Group’s valuation and potential risks, dividends, insider transactions, and financial health data are all readily available through our free analysis tool on Simply Wall St. Our platform provides unbiased commentary based on historical data and analyst forecasts to help investors make informed decisions based on fundamental data.
It is important to note that this content is not intended as financial advice and should be used solely for informational purposes only. It is always recommended to consult with a licensed financial professional before making any investment decisions based on this information or any other external factors that may impact market trends or individual circumstances.
In summary, New Oriental Education & Technology Group has reported impressive third-quarter financial results for 2024 with revenue increasing by an astounding 60%, net income rising by nearly
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