Zovio Inc (ZVO) Misses Q3 EPS by 10c, Revenues Miss

Zovio Inc (NASDAQ: ZVO) reported Q3 EPS of ($0.25), $0.10 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $104.25 million versus the consensus estimate of $108 million.

"This year has been a transitional year for Zovio, as we made progress on the conversion of Ashford University to a not-for-profit entity and re-positioned Zovio for the long term as an education technology services company. To date, we have made great progress on both fronts, and the management team and board of directors are continuing to evaluate a variety of options that are centered on creating the greatest value for all of our stakeholders," commented Andrew Clark, Founder, President and CEO of Zovio. "In addition, our team has been focused on optimizing the profitability of our core business. While there has been a fair amount of uncertainty over the last year, Ashford has a great foundation for their future, and we are positioning Zovio to return to its historical solid profitability and cash flow in 2020."

For earnings history and earnings-related data on Zovio Inc (ZVO) click here.

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