New Oriental Education & Technology Group Inc. (NYSE:EDU) Q2 2024 Earnings Conference Call January 24, 2024 8:00 AM ET

Company Participants

Sisi Zhao - Investor Relations

Stephen Yang - Executive President and Chief Financial Officer

Conference Call Participants

Felix Liu - UBS

Yiwen Zhang - China Renaissance

Lucy Yu - Bank of America Securities

Timothy Zhao - Goldman Sachs

Tian Hou - T.H. Capital

Candice Chen - Daiwa

Operator

Good evening and thank you for standing by for New Oriental's FY 2024 Second 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 the meeting over to your host for today’s conference, Ms. Sisi Zhao.

Sisi Zhao

Thank you. Hello, everyone, and welcome to New Oriental's second 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 New 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 U.S. 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.

New Oriental 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 pleasure to announce that New Oriental has delivered a set of fruitful financial results that have surpassed our expectations this quarter. Our diverse business lines have embarked a healthy recovery and anchored stable top line performance, while the enduring momentum of our new business has made a meaningful contribution to the company's revenue and continuing to pave the way for further acceleration.