05:34 AM EDT, 10/23/2024 (MT Newswires) -- New Oriental Education & Technology Group ( EDU ) reported fiscal Q1 non-GAAP net income Wednesday of $1.60 per diluted American depositary share, up from $1.13 a year earlier.

Analysts polled by Capital IQ expected $1.54.

Net revenue for the quarter ended Aug. 31 was $1.44 billion, compared with $1.1 billion a year earlier.

Analysts polled by Capital IQ expected $1.44 billion.

The company said it expects fiscal Q2 net revenue of $851.4 million to $871.8 million. Analysts polled by Capital IQ expect $1.03 billion.

New Oriental Education ( EDU ) shares were down more than 9% in premarket activity.

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