Apollo Group Inc. (NASDAQ: APOL) is seeing shares surge in after-hours after the company posted better than expected earnings. The for-profit and online education company earned $139.1 million after an 11% enrollment increase.
On an earnings per share, it posted $0.85 EPS on $835.2 million in revenues. First Call had estimates pegged at $0.78 EPS on $806.9 million in revenues.
The owner of the University of Phoenix Online also noted that enrollment increases have increased its deferred revenues, as of May 31, 2008, to $206 million from $167.3 million at August 31, 2007 and an increase from $150.0 million at May 31, 2007.
Shares closed up over 4.5% at $46.26 in normal trading hours today. But we are now seeing a 14% rise to $52.95 in after-hours trading. Its 52-week trading range is $37.92 to $81.68.
Jon C. Ogg
July 1, 2008