New Oriental Education & Technology Group Q1 Profit Increases, Beats Estimates

(RTTNews) - New Oriental Education & Technology Group (EDU) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $245.43 million, or $1.48 per share. This compares with $165.39 million, or $0.99 per share, in last year's first quarter.

Excluding items, New Oriental Education & Technology Group reported adjusted earnings of $264.73 million or $1.60 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.5% to $1.435 billion from $1.100 billion last year.

New Oriental Education & Technology Group earnings at a glance (GAAP) :

-Earnings (Q1): $245.43 Mln. vs. $165.39 Mln. last year. -EPS (Q1): $1.48 vs. $0.99 last year. -Revenue (Q1): $1.435 Bln vs. $1.100 Bln last year.

-Guidance: Next quarter revenue guidance: $851.4 - $871.8 Mln