For-profit educator Apollo Group (APOL) beat fiscal fourth quarter earnings expectations but missed on revenue, sending shares down more than 9% after hours.
Apollo posted 52 cents of EPS, 3 cents ahead of expectations. Revenue of $996.5 million missed expectations for $1.01 billion. The company also issued guidance for 2013 that disappointed the Street — Apollo expects to pull in $3.65-$3.80 billion in revenue, versus analysts’ expectations for 4.06 billion.
Enrollment fell at Phoenix University. “For the quarter, University of Phoenix Degreed Enrollment decreased 13.8% to 328,400 and New Degreed Enrollment decreased 13.7% compared to the fourth quarter of fiscal year 2011.”
New degreed enrollment rose by 52,800, below expectations for 58,000 and last year’s 61,200 rise.
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