BEIJING (dpa-AFX) - (Adds Outlook)
New Oriental Education & Technology Group (EDU) revealed a profit for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $165.39 million, or $0.99 per share. This compares with $66.00 million, or $0.38 per share, in last year's first quarter.
Excluding items, New Oriental Education & Technology Group reported adjusted earnings of $189.32 million or $1.13 per share for the period.
Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 47.7% to $1.10 billion from $744.82 million last year.
Outlook
Looking ahead for the second quarter, New Oriental expects total net revenues to be in the range of $785.0 million to $804.2 million, representing year-over-year increase in the range of 23% to 26%.
The Street is looking for second-quarter revenues of $812.39 million.
New Oriental Education & Technology Group earnings at a glance (GAAP) :
-Earnings (Q1): $165.39 Mln. vs. $66.00 Mln. last year. -EPS (Q1): $0.99 vs. $0.38 last year. -Analyst Estimate: $0.81 -Revenue (Q1): $1.10 Bln vs. $744.82 Mln last year.
-Guidance: Next quarter revenue guidance: $785.0 - $804.2 Mln
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