Apollo Group runs for-profit colleges, most notably the University of Phoenix. They posted a net revenue of $134.0 million or $1.13 per share. Although the recent net revenue was lower than last year’s $212.4 million and $1.51 per share, the earnings beat analysts’ expectations. Student advisory services increased 2.6% since the previous quarter to $470.1 million. Marketing costs decreased from 1.3% to $158.9 million due to lower advertising costs. Their profit for the year will be as high as $740 million, above the previous consensus of $725 million and revenue will be in the range of $4.2-4.3 billion.

Apollo Group Co-CEO said, “We are focused on delivering the best possible experience and service to support working adults, to address workforce needs, and to strengthen the connection to careers for our students.”