New Oriental Education & Technology Group Inc. (NYSE:EDU) Q1 2024 Earnings Conference Call October 25, 2023 8:00 AM ET

Company Participants

Sisi Zhao - Investor Relations

Stephen Yang - Executive President and Chief Financial Officer

Conference Call Participants

Yiwen Zhang - China Renaissance

Felix Liu - UBS

Lucy Yu - Bank of America Securities

DS Kim - JP Morgan

Kan Wang - CICC

Operator

Good evening and thank you for standing by for New Oriental's fiscal year 2024 First Quarter Results Earnings Conference call. At this time, all participants are in a listen only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

I would now like to turn over to your host today, Ms. Sisi Zhao.

Sisi Zhao

Hello, everyone, and welcome to new Oriental's first fiscal quarter 2024 earnings conference call. Our financial results for the period were released earlier today and are available on the company's website as well as on newswire services. Today, Stephen Yang, Executive President and Chief Financial Officer, and I will share Oriental's latest earnings results and business updates in detail with you. After that, Stephen and I will be available to answer your questions.

Before we continue, please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the US Private securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, our results may be materially different from the view expressed today. A number of potential risks and uncertainties are outlined in our public filings with the SEC.

Oriental's does not undertake any obligation to update any forward-looking statements except as required under applicable law. As a reminder, this conference is being recorded. In addition, a webcast of this conference call will be available on New Oriental's Investor Relations website at investor neorental.org.

I will now first turn the call over to Mr. Yang. Stephen, please go ahead.

Stephen Yang

Thank you, Sisi. Hello everyone, and thank you for joining us on the call. It's our great pleasure to announce the New Oriental has painted an encouraging start of fiscal year 2024 by delivering a set of robust financial results this quarter, with top line performance beating the high end of our expectations. Following a tireless year of trial and development, our multipronged business lines have pivoted towards a stable recovery and anchored fruitful yields.