For the latest quarter, the company reported revenue of $681.5 million, or 44 cents diluted earnings per share, or 53 cents per share excluding special items. In the previous year, the company reported revenue of $793.6 million in the same quarter.
The company's reported income of $48.1 million, or 44 cents per share, compared to $68.1 million, or 61 cents per share in the same quarter the previous year.
For the third quarter of 2015, the company was expected to report earnings of 47 cents per share on revenue of $698.7 million, according to analysts polled by Thomson Reuters.
As a result of stricter regulation that reduced for-profit colleges' share of U.S. financial aid for students that such schools depend on for most of the revenue, Apollo has seen its enrollment numbers pressured, The Wall Street Journal reports.
Additionally, University of Pheonix Average Degreed Enrollment dropped to 29,400 and Degreed Enrollment was 206,900, compared to 33,900 and 241,900, respectively, in the same quarter a year ago.
The company also offered a revised outlook for fiscal year 2015. Apollo Education now expects operating earnings of $190 million to $200 million on revenue of $2.6 billion to $2.62 billion, compared with its previous estimate for operating income of $200 million to $230 million on revenue of $2.63 billion to $2.68 billion.
Apollo Education Group provides private education services in the U.S. and internationally.