Asia
New Oriental Sees 45% Boost in Fiscal Q3 Profit
New Oriental Education & Technology Group (HKG:9901) recorded an attributable net income of $126.8 million in the third fiscal quarter ended Feb. 28, up 45% from $87.3 million a year prior, according to a Wednesday Hong Kong bourse filing.Earnings per share rose to $0.08 from $0.05 in the corresponding period of the previous fiscal year.Net revenues jumped 20% to $1.42 billion in the three months from $1.18 billion in the year-ago period, driven by a higher revenue from the new educational business initiatives.For the nine months ended Feb. 28, attributable net income and revenue each rose 13% year over year to $413 million and $4.13 billion, respectively.
HKG:9901
