New Oriental Education & Technology Group Q1 adjusted earnings Beat Estimates

(RTTNews) - New Oriental Education & Technology Group (EDU) revealed a profit for its first quarter that climbed from the same period last year.

The company's profit came in at $208.99 million, or $1.31 per share. This compares with $123.23 million, or $0.77 per share, in last year's first quarter.

Excluding items, New Oriental Education & Technology Group reported adjusted earnings of $230.16 million or $1.44 per share for the period.

Analysts had expected the company to earn $1.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.4% to $1.07 billion from $859.85 million last year.

New Oriental Education & Technology Group earnings at a glance:

-Earnings (Q1): $230.16 Mln. vs. $184.14 Mln. last year. -EPS (Q1): $1.44 vs. $1.16 last year. -Analysts Estimate: $1.37 -Revenue (Q1): $1.07 Bln vs. $859.85 Mln last year.

-Guidance: Next quarter revenue guidance: $753.6 - $771.0 Mln