New Oriental Education Misses Q2 Estimates

New Oriental Education & Technology posted Q2 results that disappointed the market. The China-based company posted a loss of just under $9 million, or $0.06 per diluted share, compared with a profit of $7.5 million the same quarter the year before. Analysts had forecast negative EPS of around $0.04 for the latest quarter. Net revenues advanced strongly, by 30% to $166 million, but the market expected a slightly higher figure.

Meanwhile, New Oriental Education reported that total student enrollments grew by 7% year over year to roughly 505,000. The number of schools and learning centers also advanced, to 744 from Q2 2012's 726.

The company also provided top line guidance for its current quarter. It anticipates taking in total net revenues of $212 million to $221 million. It did not provide an an estimate for net profit.

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