When you name your company after the Greek sun god, suffice it to say you are establishing some high expectations. For-profit education provider Apollo Group (Nasdaq:APOL) could certainly use some of Apollo's prophetic capabilities right now, as the company tries to navigate an evolving regulatory and economic environment. Although for-profit education has probably already seen its peak, Apollo looks to have what it takes to be a survivor for the long haul.
A Mixed Start to the Fiscal Year
Apollo's first quarter was positive in many respects, but still evidences many of the significant challenges in front of this company. Reported revenue fell 11%, due in large part to lower enrollments. A company-described metric called "degreed enrollment" fell almost 15% this quarter, while the company did see higher revenue per enrollee (up more than 3%) and a larger number of credits earned per student (up about 4%).
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