Grand Canyon Education: 3Q Earnings Snapshot
PHOENIX (AP) _ Grand Canyon Education Inc. (LOPE) on Thursday reported third-quarter net income of $33.8 million.
On a per-share basis, the Phoenix-based company said it had net income of 70 cents. Earnings, adjusted for non-recurring costs, came to $1.06 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The for-profit education company posted revenue of $155.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $153.4 million.
For the current quarter ending in December, Grand Canyon Education said it expects revenue in the range of $175 million.
The company expects full-year earnings to be $4.59 per share, with revenue expected to be $843 million.
Grand Canyon Education shares have climbed 44 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $129.35, a climb of 43 percent in the last 12 months.