UPDATE 1-Apollo Group Q2 results top Street

martedì 31 marzo 2009 22:58

* Q2 EPS 77 cents beats expectations by 12 cents

* Q2 rev $876.1 million vs $865.3 million est

March 31 (Reuters) - Apollo Group Inc APOL.O, the parent company of the University of Phoenix, posted better-than-expected quarterly results, helped by increased enrollment revenue.

"University of Phoenix again contributed significantly to our results, driven by 20 percent Degreed Enrollment growth, bringing the total during the quarter to nearly 400,000 students," Chief Executive Chas Edelstein said in a statement.

For the second quarter ended Feb. 28, the company reported a profit of $125.3 million, or 77 cents per share, compared with a loss of $32 million, or 19 cents a share, a year earlier.

Revenue rose 26 percent to $876.1 million.

Shares of the Phoenix-based company closed at $78.33 Tuesday on Nasdaq.

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For the release, double click [ID:nBw316557a] (Reporting by Eric Yep in Bangalore; Editing by Deepak Kannan)