After the bell, shares took off 4.4% to $35.16.
In the three months to February, the private education provider reported adjusted net income of 28 cents a share, 6 cents less than a year earlier. Revenue slipped 18.6% year over year to $679.1 million.
Analysts surveyed by Thomson Reuters had forecast net income of 19 cents a share and sales of $689.04 million.
Over fiscal 2014 ending August, management guides for revenue between $3 billion and $3.1 billion, a 15.8% to 18.5% year-over-year drop. Adjusted operating income is expected in the range of $400 million to $450 million, a 25% to 33.5% fall.
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TheStreet Ratings team rates APOLLO EDUCATION GROUP INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate APOLLO EDUCATION GROUP INC (APOL) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and feeble growth in the company's earnings per share."
- You can view the full analysis from the report here: APOL Ratings Report