New Oriental Issues Q4 Revenue Guidance - Quick Facts

(RTTNews) - New Oriental Education & Technology Group Inc. (EDU) announced the company expects total net revenues in the fourth quarter of to be in the range of $774.0 million to $806.2 million, a year-over-year decline in the range of 8% to 4%. The company anticipates the impact on its business from the outbreak of COVID-19 pandemics around the globe will continue during the fourth quarter, especially on overseas related businesses including test preparation and consulting business.

Third-quarter non-GAAP net income per ADS was $0.93 compared to $0.69, prior year. Total net revenues increased by 15.9% year-over-year to $923.2 million.