Zovio Inc (ZVO) Tops Q1 EPS by 17c, Revenues Beat

Zovio Inc (NASDAQ: ZVO) reported Q1 EPS of $0.06, $0.17 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $109.8 million versus the consensus estimate of $96.5 million.

"As we continued to advance our transition to an education technology services company, we delivered first quarter 2020 revenue, earnings and new enrollments in-line with our expectations. We experienced a steady flow of new inquiries in the first quarter; however, the unprecedented environment that has materialized as a result of the COVID-19 pandemic has ushered in significant uncertainty for many of our students. While the full impact of the crisis is unknown, we took swift actions to protect the health and safety of our employees, students and University staff," commented Andrew Clark, Founder, President and Chief Executive Officer. "We continue to progress with our efforts to successfully complete the conversion of Ashford, while at the same time executing our transition to an education technology services company, which we believe will yield value creation for our shareholders over the long-term," Mr. Clark further stated.

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

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