China's New Oriental Education sinks to 3-month low after Q3 results

New Oriental Education & Technology

25/04/2024 08:23

** Hong Kong shares of New Oriental Education & Technology
Group  9901.HK  drop as much as 19.3% to HK$57.25, lowest since
Jan 24
    ** Stock on course for biggest one-day pct decline since
July 2021; biggest pct loser on Hang Seng Composite Index
 .HSCI  
    ** U.S.-listed shares  EDU.N  dropped 14% on Wednesday
    ** China's educational services provider says net profit for
third quarter ended in February up 9.8% YoY to $104.7 mln with
net revenues up 60.1% YoY and adjusted earnings at 63 cents​​
per share, below analysts' mean expectation of 79 cents each
    ** Hang Seng Composite Index  .HSCI  climbs 0.4% and Hang
Seng Index  .HSI  adds 0.6% 
    ** Hong Kong-listed stock rose 11.4% YTD, U.S. stock up 5.2%
YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))