Filed under: Earnings reports, China, Technology

The plunge in US markets is spreading beyond our shores — and has even hit the Chinese stocks.

And one of the notable decliners is New Oriental Educational & Technology Group, Inc. (NYSE: EDU), which reported a disappointing fiscal Q2. The company is a leading English language provider.

Revenues came to $32.6 million, up 42.4%. Net income was up 77% to $2 million.

Good, huh? Unfortunately, it looks like fiscal Q3 may be tough. New Oriental sees revenue growth of 22% to 28%.

What are the issues? Well, there are likely to be disruptions from the upcoming Olympics (who wants to study then?)

Continue reading New Oriental Education: lost in translation

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This entry was posted on Wednesday, January 16th, 2008 at 12:52 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.