Grand Canyon Education, Inc. Reports First Quarter 2017 Results
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Grand Canyon Education (LOPE) Tops Q1 EPS by 15c
May 4, 2017 4:59 PM EDTGrand Canyon Education (NASDAQ: LOPE) reported Q1 EPS of $1.16, $0.15 better than the analyst estimate of $1.01. Revenue for the quarter came in at $248.2 million versus the consensus estimate of $244.72 million.
Net revenue increased 9.4% to $248.2 million for the first quarter of 2017, compared to $227.0 million for the first quarter of 2016.End-of-period enrollment increased 11.0% to 83,352 at March 31, 2017, from 75,096 at March 31, 2016, as ground enrollment increased 12.0% to 15,857 at March 31, 2017, from 14,158 at March 31, 2016 and online enrollment increased 10.8% to 67,495 at March 31, 2017, from 60,938 at March 31, 2016.Operating income for the first quarter of 2017 was $76.6 million, an increase of 11.6% as... More