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NEW YORK ( TheStreet) -- Shares of Apollo Group (APOL - Get Report) turned lower in late trades on Monday despite the for-profit education company trouncing Wall Street expectations for its fiscal second-quarter results.
The Phoenix-based company reported earnings from continuing operations excluding items of $73.8 million, or 58 cents a share, for the three months ended Feb. 29 on revenue of $969.6 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 37 cents a share in the quarter on revenue of $933.3 million.
Apollo, which operates the University of Phoenix, said new degreed enrollment was up 1.0% year-over-year, and that total enrollment stood at 355,800 at quarter's end.