Photo: Shrff via Flickr
Private education companies including Strayer, DeVry, Corinthian College and The Washington Post Company are seeing their shares drop today after Apollo Group missed earnings expectations because of significant enrollment declines.Apollo Group is down over 7%.
Here is what you need to know via the Wall Street Journal:
- Apollo reported a loss of $64 million compared with a year earlier profit of $92.6 million.
- Enrollment dropped 12% in the last quarter and new enrollment dropped 45%
- The increased marketing effort to recruit more students is driving costs way up