天坑指引,新东方又“凉凉”

海豚投研
Jul 30

新东方这次业绩的大坑又在指引上,包括下季度以及 2026 财年全年的收入指引,均弱于市场预期,不排除有管理层的谨慎保守考虑。这次并没有单拎出教育收入做指引,因此电商在其中的拖累有多少,还需要听管理层介绍细分业务情况。但短期无疑会再次打击市场信心,唯一聊以慰藉的是,降本提效的进展有所超预期。和上季度的感受一样,虽然新东方目前估值不高,但在基本面隐忧消除之前,还是只能看看 “分红底” 的估值机会。稍后...

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