New Oriental Education & Technology Group Q1 Profit Increases, beats estimates

(RTTNews) - 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.

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