新东方-S出国业务或仍承压,降本增效或在4季度体现

交银国际
25 Apr

2025财年3季度业绩:收入同比降2%至11.8亿美元,低于我们/彭博市场预期3%/4%;不包含东方甄选,教育及文旅收入同比增21%。调整后运营利润1.4亿美元,对应运营利润率12%,不包含东方甄选运营利润率13%,较去年同期的15%有所下降,主要受留学业务收入增速承压及文旅投入的影响。调整后归母净利润1.02亿美元,低于我们/彭博市场预期的1.2亿美元,对应净利率8.6%。核心教育:传统业务贡献...

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