New Oriental Education & Technology Group has announced its third quarter 2024 financial results, showing a significant increase in revenue and net income. The company reported US$1.21 billion in revenue, a 60% increase from the same quarter in 2023, and US$87.2 million in net income, a 6.8% increase from the previous year. However, profit margins decreased to 7.2% from 11% in 3Q 2023 due to higher expenses. Earnings per share (EPS) improved to US$0.53 from US$0.49 in 3Q 2023 but still fell short of analyst expectations by 11%.
Looking forward, New Oriental Education & Technology Group is forecasted to achieve an average annual revenue growth of 17% over the next three years, compared to an 11% growth forecast for the Consumer Services industry in the US. Despite this positive outlook, the company’s shares have declined by 2.0% over the past week.
Investors seeking to evaluate a company’s financial health should analyze its balance sheet carefully. New Oriental Education & Technology Group’s balance sheet provides insights into its financial position and can help determine whether its stock is over or undervalued. Valuation of a company can be complex, but a comprehensive analysis can help investors make informed decisions about buying or selling stocks based on fair value estimates, risks, dividends, insider transactions, and financial health factors.
If you have any feedback or concerns about this article or any other content on Simply Wall St, please do not hesitate to contact our editorial team at Simply Wall St. Our analysis is based on historical data and analyst forecasts using an unbiased methodology that does not provide financial advice or recommend buying or selling any stock without considering individual objectives and financial situations.
Simply Wall St aims to provide long-term focused analysis driven by fundamental data while also incorporating qualitative information when available.
It is important to note that Simply Wall St does not hold any positions in any stocks mentioned above.
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