Dive Brief:
- Apollo Group — owner of University of Phoenix — has released an earnings report that shows revenue is about what analysts expected and earnings per share is slightly higher.
- Revenue is falling: The figure for the same quarter last year was just over $1 billion, but this quarter it stood around $856 million.
- In March 2013, the company's shares sold for $16, down from $90 in 2009, but a recent rally saw them climb to $27.
Dive Insight:
Increasing regulatory pressure on for-profit schools is making it tricky the for University of Phoenix to grow. Its peak enrollment was in 2010 with 371,000. Now it stands at around 270,000 and at least one analyst says it will have to work hard to keep that enrollment number stable.
