Apollo (APOL) Sees Roller Coaster Ride as Investors Weigh EPS 'Beat' Versus Sinking Enrollment

January 8, 2013 4:36 PM EST
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After an initial knee-jerk higher, shares of Apollo Group (NASDAQ: APOL) declined in after-hours trading on Tuesday after the company reported Q1 results. While EPS topped estimates, 2013 guidance fell short of Wall Street expectations. Apollo also reported a year-over-year drop in enrollment.

Apollo reported Q1 EPS of $1.22, $0.32 better than the analyst estimate of $0.90. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.03 billion. In 2012, Apollo reported comparable revenue of $1.2 billion.

In Q1 University of Phoenix Degreed Enrollment was 319,700, a 14.3 percent decrease from the prior year first quarter, and New Degreed Enrollment was 54,100, a 15.1 percent decrease from the prior year first quarter.

In 2013 Apollo expects net revenue of $3.65 to $3.75 billion. This falls short of Walls Street estimates calling for revenue of $3.77 billion.

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