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Apollo Education Group (APOL) Misses Q1 EPS by 2c

January 11, 2016 7:37 AM EST

Apollo Education Group (NASDAQ: APOL) reported Q1 EPS of $0.29, $0.02 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $586 million versus the consensus estimate of $610.42 million.

Earlier, the company announces plans to explore strategic alternatives.

“Apollo is taking the necessary steps to enhance long-term shareholder value through a series of strategic actions which include transforming University of Phoenix into a higher retaining, more trusted provider of career relevant higher education, continued expansion of our international network, and a commitment to efficiency,” said Greg Cappelli, Chief Executive Officer, Apollo Education Group. “The University of Phoenix team is implementing major components of its transformational plan as quickly as possible, and although this is having a near-term negative impact on revenue, we believe speed of execution will help the University return to stability more quickly. Apollo Global continues to expand and grow its network through a combination of high quality acquisitions and organic growth and is on-target for a record year. Finally, we have committed to incremental cost reductions in order to preserve our operating margin during this transformational period.”

For earnings history and earnings-related data on Apollo Education Group (APOL) click here.



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