Financial Performance - For the third quarter of fiscal year 2024, net revenue increased by 60.1% year-over-year to $1,207.3 million[3] - Operating profit for the third quarter rose by 70.6% year-over-year to $113.4 million[3] - Net profit attributable to New Oriental shareholders increased by 6.8% year-over-year to $87.2 million[3] - For the third quarter of fiscal year 2024, the company's net revenue was $1,207.3 million, representing a year-over-year increase of 60.1%[10] - The company reported a Non-GAAP net profit attributable to shareholders of $104.7 million for the third quarter, a year-over-year increase of 9.8%[14] - New Oriental's net profit attributable to shareholders for the nine months ended February 29, 2024, was $282,619, compared to $148,382 for the same period in 2023, marking an increase of approximately 90.4%[35] - The diluted earnings per American Depositary Share (ADS) for the three months ended February 29, 2024, was $0.52, compared to $0.48 for the same period in 2023, representing an increase of approximately 8%[29] - New Oriental's basic net profit per American depositary share (ADS) increased to $1.71 for the nine months ended February 29, 2024, compared to $0.88 for the same period in 2023, representing a growth of 94.3%[38] - The diluted net profit per ADS under non-GAAP increased to $2.05 for the nine months ended February 29, 2024, up from $1.14 in the same period of 2023, reflecting an increase of 80.7%[38] Revenue and Growth - Revenue from overseas exam preparation and consulting services grew by approximately 52.6% and 25.7% respectively[8] - Non-academic tutoring business revenue increased by 72.7%, with 355,000 registrations in nearly 60 cities[8] - For the first nine months of fiscal year 2024, the company's net revenue was $3,176.9 million, a year-over-year increase of 48.6%[16] - For the three months ended February 29, 2024, New Oriental reported a net revenue of $3,176,907, an increase from $2,137,189 for the same period in 2023, representing a growth of approximately 48.7%[35] Operating Costs and Expenses - Operating costs and expenses for the quarter were $1,093.9 million, up 59.1% year-over-year, with a significant increase in costs related to self-operated products and live e-commerce[11] - The total operating costs and expenses for the three months ended February 29, 2024, amounted to $1,093,854, up from $687,662 in the previous year, which is an increase of approximately 59%[29] - The company incurred general and administrative expenses of $287,809 for the three months ended February 29, 2024, compared to $215,471 for the same period in 2023, which is an increase of approximately 33.5%[31] - Total operating expenses for the three months ended February 29, 2024, were $1,093,854, compared to $687,662 for the same period in 2023, reflecting an increase of about 59.0%[31] Cash Flow and Liquidity - The company recorded a net operating cash flow of approximately $109.4 million for the quarter[8] - As of February 29, 2024, the company's cash and cash equivalents amounted to $2,013.6 million, with deferred revenue increasing by 30.8% year-over-year to $1,521.7 million[15] - Cash and cash equivalents increased to $2,013,627 as of February 29, 2024, compared to $1,662,982 as of May 31, 2023, marking a growth of approximately 21%[27] - The company reported cash and cash equivalents of $2,189,074 as of February 29, 2024, compared to $1,431,001 at the end of the same period in 2023, indicating a year-over-year increase of about 53.0%[34] - Net cash provided by operating activities for the nine months ended February 29, 2024, was $745,808 thousand, an increase from $549,399 thousand in the same period of 2023, representing a rise of 35.7%[39] Future Outlook - The company expects net revenue for the fourth quarter of fiscal year 2024 to be between $1,101.5 million and $1,127.3 million, representing a year-over-year growth rate of 28% to 31%[18] Shareholder Returns - The company has authorized a share repurchase plan allowing for the repurchase of up to $400 million of its American Depositary Shares or common stock[9] Assets and Liabilities - Total assets as of February 29, 2024, were $7,189,543, up from $6,392,458 as of May 31, 2023, reflecting an increase of about 12%[27] - Total liabilities increased to $3,039,460 as of February 29, 2024, compared to $2,577,670 as of May 31, 2023, which is an increase of approximately 18%[28] - The company’s total equity rose to $4,150,083 as of February 29, 2024, from $3,814,788 as of May 31, 2023, indicating an increase of about 9%[28]
新东方(09901) - 2024 Q3 - 季度业绩