Apollo Profit Tops Estimates After Cutting Teaching Costs
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Apollo Education Group Inc., owner of the University of Phoenix and the biggest U.S. for-profit college, said first-quarter profit topped analysts’ estimates as the company lowered expenses for teaching and marketing.
Profit excluding some items was $1.04 a share in the three months ended Nov. 30, Phoenix-based Apollo said today in a statement. That compared with the 90-cent average of analysts’ estimates compiled by Bloomberg.