New Oriental Education & Technology Group Inc. (NYSE:EDU) Q1 2025 Earnings Conference Call October 23, 2024 8:00 AM ET

Company Participants

Sisi Zhao - Investor Relations
Stephen Yang - Executive President & Chief Financial Officer

Conference Call Participants

Felix Liu - UBS
Alice Cai - Citi
Yiwen Zhang - China Renaissance
Lucy Yu - Bank of America
Timothy Zhao - Goldman Sachs
Charlotte Wei - HSBC
DS Kim - JPMorgan

Operator

Good evening, and thank you for standing by for New Oriental's FY 2025 First Quarter Results Earnings Conference Call. At this time, all participants are in 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'd 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 first fiscal quarter 2025 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.neworiental.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.

We're pleased to announce that the company has forged a healthy growth across our key business lines in alignment with the expectations, with the top-line growth of 30.5% this quarter. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 33.5% year-over-year. In particular, we're impressed by the highly encouraging growth that the new endeavors have anchored, which has significantly contributed to the core building blocks of the company.