New Oriental Q1 Revenue Jumps 23.1% to $1.87B on East Buy Surge
BEIJING – October 29, 2026 -- New Oriental Education & Technology Group (NYSE: EDU / 9901.SEHK) reported a 23.1% year-over-year rise in net revenues to US$1,874.5 million for the first quarter of fiscal 2027, ended August 31, 2026. Operating income rose 20.5% to US$374.7 million, and net income attributable to the company rose 13.5% to US$273.2 million.
East Buy and new education initiatives drive the revenue increase
New Oriental attributed the growth mainly to its new educational business initiatives and to East Buy's private label products and livestreaming e-commerce business. New educational business initiatives grew about 24.7%. Domestic test preparation for adults and university students grew about 22.3%. Overseas test preparation and consulting revenue grew about 7.7%.
Executive Chairman Michael Yu said the 23.1% growth was above the company's current full-year guidance range.