Apollo Education Group Inc. (NASDAQ: APOL) released its fiscal third-quarter earnings after the markets closed Monday. The company reported $0.53 in earnings per share (EPS) on $681.5 million in revenue, compared to Thomson Reuters consensus estimates of $0.47 in EPS on $698.57 million in revenue. The same period from the previous year had $0.76 in EPS on $799.92 million in revenue.

The company revised its guidance for the 2015 fiscal year. Apollo expects net revenue in the range of $2.60 billion to $2.62 billion and operating income in the range of $190 million to $200 million. There are consensus estimates of $1.09 in EPS on $2.63 billion in revenue.

For the fiscal third quarter, the University of Phoenix New Degreed Enrollment was 29,400 and Degreed Enrollment was 206,900. The same quarter from the previous year had New Degreed Enrollment of 33,900 and Degreed Enrollment of 241,900.

Greg Cappelli, CEO of Apollo, commented on earnings:

At Apollo Education Group, we are building a diversified global network committed to academic excellence and strong student support, as we work to change lives through higher education. In a time of transformation, University of Phoenix, our largest subsidiary, is working to become a more focused, higher retaining and less complex institution. Our commitment across all of our institutions is to deliver world-class experiences and outcomes, connecting students’ education with their career aspirations, and helping employers recruit, retain, and develop a highly engaged and productive workforce.

At the end of the quarter, Apollo’s unrestricted cash and cash equivalents and short-term marketable securities totaled $778.4 million, compared to $1.4 billion as of the end of August, 2014.

Shares of Apollo closed Monday down about 5%, at $15.55 in a 52-week trading range of $15.51 to $34.55. After earnings were released, shares were down 4.3% at $14.87 in the after-hours trading session. The stock has a consensus analyst price target of $21.50.

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