The plunge in US markets is spreading beyond our shores -- and has even hit the Chinese stocks.
And one of the notable decliners is New Oriental Educational & Technology Group, Inc. (NYSE: EDU), which reported a disappointing fiscal Q2. The company is a leading English language provider.
Revenues came to $32.6 million, up 42.4%. Net income was up 77% to $2 million.
Good, huh? Unfortunately, it looks like fiscal Q3 may be tough. New Oriental sees revenue growth of 22% to 28%.
What are the issues? Well, there are likely to be disruptions from the upcoming Olympics (who wants to study then?)
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