New Oriental Education & Technology Group Inc. has announced impressive financial results for the first fiscal quarter of 2027, ending August 31, 2026. The company reported a significant year-over-year increase in revenues and net income, reflecting its successful strategies in the educational services and e-commerce sectors.

New Oriental, a leading provider of private educational services in China, operates under the Standard Industrial Classification (SIC) code 8200, which encompasses educational services. The company trades on the NYSE under the ticker symbol EDU and is recognized for its innovative approach to education.

According to the filing dated October 28, 2026, New Oriental's total net revenues reached $1.87 billion for the quarter, marking a 23.1% increase compared to the same period last year. Operating income also saw a robust rise, climbing by 20.5% to $374.7 million. Additionally, net income attributable to the company increased by 13.5% to $273.2 million.

“We are delighted to start our fiscal year 2027 with strong top line growth of 23.1%, above our current full year guidance range,” said Michael Yu, Executive Chairman of New Oriental.

This growth was driven by the company's new educational initiatives and its East Buy private label products, which have gained traction in the market. The company reported that revenues from overseas test preparation and consulting increased by approximately 7.7%, while domestic test preparation for adults and university students grew by about 22.3% year over year.

New Oriental's commitment to innovation is evident in its expansion of non-academic tutoring courses, which reached around 60 cities and attracted approximately 476,000 student enrollments. The company's intelligent learning systems and devices have also been adopted across 60 cities, with around 515,000 active paid users.

In addition to its strong financial performance, New Oriental announced a cash dividend of $0.20 per common share, or $2.00 per American Depositary Share (ADS), to be distributed in two installments. The first installment of $0.10 per share is set to be paid to shareholders of record as of November 18, 2026, with payment expected around December 1, 2026.

Furthermore, the company has initiated a new share repurchase program, allowing for the repurchase of up to $200 million of its ADSs or common shares over the next 12 months. As of October 27, 2026, New Oriental had fully utilized the $300 million repurchase amount authorized under its previous program.

“We remain firmly committed to building a stronger brand and creating enduring value for our customers and shareholders,” added Stephen Zhihui Yang, Executive President and CFO.

The results and announcements from New Oriental signal a positive outlook for the educational services industry, showcasing resilience and adaptability in a competitive market. The company’s focus on operational efficiency and innovation positions it well for continued growth.

Looking ahead, New Oriental plans to maintain its strategy of disciplined capacity expansion while leveraging artificial intelligence to enhance product competitiveness and operational efficiency. The company’s executives expressed confidence in their ability to deliver sustainable growth and profitability in the coming years.

Details were not available in the SEC filing regarding any upcoming events or additional filings related to these announcements.