Consumer Discretionary Oct 13, 2020 04:44 PM (GMT+8) · EqualOcean
New Oriental announced its first quarter (Q1) performance report for the fiscal year 2021 ending August 31, 2020, on October 13. - Total net revenue was USD 986.4 million, a year-on-year decrease of 8%. - Operating profit was USD 150.3 million, a year-on-year decrease of 38.9%. - Net profit attributable to New Oriental was USD 174.7 million, a year-on-year decrease of 16.4%. - The diluted earnings per ADS was USD 1.09, a year-on-year decrease of 16.5%. - The total number of students in academic tutoring and test preparation courses reached approximately 3 million an increase of 13.5% year-on-year. - As of August 31, 2020, the total number of schools and learning centers was 1,472. The company predicts that the total revenue of the second quarter of fiscal 2021 (September 1, 2020, to November 30, 2020) will be between USD 863.7 million and USD 887.3 million, a year-on-year increase of 10% to 13%.
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