- New Oriental Education & Technology Group (EDU, Financial) records a 2.0% decline in total net revenues for Q3 FY2025, reaching US$1,183.1 million.
- Core educational revenues, excluding the East Buy business, rose 21.2% to US$1,038.3 million.
- The company's share repurchase program has been extended and increased to US$700 million.
New Oriental Education & Technology Group (EDU) has released its financial results for the third fiscal quarter ending February 28, 2025, showing a mixed performance. The company reported a 2.0% year-over-year decline in total net revenues, bringing in US$1,183.1 million. However, core educational revenues, excluding the East Buy business, saw a significant 21.2% increase to US$1,038.3 million.
The company's operating income rose by 9.8% to US$124.5 million, while net income slightly increased by 0.1% to US$87.3 million. In a bid to boost shareholder value, New Oriental has extended its share repurchase program to May 31, 2025, and increased its authorization from US$400 million to US$700 million. As of April 22, 2025, the company repurchased approximately 14.4 million American Depositary Shares (ADS) for US$695.5 million.
Significant growth was noted in several key segments: overseas study consulting increased by 21.4%, domestic test preparation grew by 17.0%, and new educational initiatives showed a robust 34.5% growth. Non-academic tutoring courses attracted 408,000 student enrollments across 60 cities, underlining New Oriental's continued expansion in diverse educational offerings.
