New Oriental Education & Technology Group (EDU) reported fiscal Q1 non-GAAP earnings Wednesday of $1.92 per diluted American depositary share, up from $1.61 a year earlier.

Two analysts polled by FactSet expected $1.81.

Net revenue for the quarter ended Aug. 31 was $1.87 billion, compared with $1.52 billion a year earlier.

Analysts expected $1.85 billion.

The company reiterated its fiscal 2027 net revenue guidance range of $6.45 billion to $6.68 billion. Analysts expect $6.63 billion.

New Oriental Education shares were down 11.7% in premarket activity.