Apollo Reports Solid Q2 Results, Guidance In-Line (APOL)

Apollo Group, Inc. (NASDAQ:APOL) reported its Q2 EPS at $0.83 ex-items, beating the consensus estimate for $0.69 per share. Consolidated revenue for the quarter was down 2% year-over-year to $1.04 billion, vs. the consensus estimate for $1.03 billion.

The company sees 2011 consolidated revenue of $4.65 billion to $4.75 billion, in-line with the consensus estimate for $4.69 billion.

Apollo Group Co-CEO and Apollo Global Chairman Greg Cappelli said, "During the second quarter of fiscal 2011, we continued to execute on the key strategic initiatives that we've been developing and implementing, which are designed to enhance the student experience, expand student protections and ensure that we enroll students who we believe have a greater likelihood to succeed in our programs. While these initiatives are resulting in a period of transition for our business, we are pleased that we have recently begun to see signs of improvement in several of the leading indicators of future activity."

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