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Apollo Education Group +2.2% after fiscal Q3 beat

Jul. 07, 2016 6:35 PM ETApollo Education Group, Inc. (APOL) StockBy: Jason Aycock, SA News Editor2 Comments
  • Apollo Education Group (NASDAQ:APOL) is up 2.2% after hours following a fiscal Q3 report where it beat on top and bottom lines after pursuing cost cuts.
  • Revenue slipped 18% but beat analyst expectations, and income from continuing operations fell to $20.7M from a year-ago $50.3M.
  • Adjusted EBITDA fell to $90.7M from a year-ago $132.2M but beat an expected $77.2M.
  • University of Phoenix New Degreed Enrollment was 17,900 and Degreed Enrollment 155,600, vs. a year-ago 29,400 and 206,900.
  • The company's not holding a conference call or providing guidance due to the pending takeover by a consortium including Apollo Global (APO), Vistria Group and Najafi Cos. At $9.24 after hours, share price is getting closer to the $10 acquisition price.
  • Press Release

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