01:07 PM EDT, 04/24/2024 (MT Newswires) -- (Updates with Wednesday's stock price movement in the first paragraph and headline)

New Oriental Education & Technology Group ( EDU ) shares were down nearly 14% in recent Wednesday trading after the company reported its Q3 earnings.

The company booked fiscal Q3 non-GAAP net income of $0.63 per diluted American depositary share, up from $0.56 a year earlier.

Analysts polled by Capital IQ expected $0.76.

Net revenue for the quarter ended Feb. 29 was $1.21 billion, up from $754.2 million a year earlier.

Analysts surveyed by Capital IQ expected $1.09 billion.

For fiscal Q4, the company expects total net revenue in the range of $1.10 billion to $1.13 billion. Analysts polled by Capital IQ expect $1.09 billion.

Price: 77.27, Change: -12.32, Percent Change: -13.75