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New Oriental Education & Technology Group ADR Dives 23% as Quarterly Non-GAAP NP Falls 29.1% YoY
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NEW ORIENTAL-S (09901.HK) (EDU.US)'s ADR slipped, and plummeted 23.2% to US$46.71 at close. The stock once collapsed 27% to US$44.46 during the intraday trading session. NEW ORIENTAL-S' 2FQ net revenue was US$1.039 billion, up 19% YoY, while its net profit reached US$31.931 million, up 6.2% YoY. Its operating income fell 9.8% to US$19.255 million. Non-GAAP net income decreased by 29.1% YoY to US$35.541 million, which was higher than the market's original estimation of 21%, according to Morgan Stanley. Non-GAAP operating profit fell 45.8% to US$27.580 million. AAStocks Financial News |
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