Dive Summary:
- Strayer Education Inc.'s net income was down 29% for the second quarter as enrollments continue to fall.
- The for-profit's earnings ($15 million, or $1.42 per share) topped estimates of $1.38 per share, though stocks still fell in afternoon trading.
- The Herndon, Va., company's revenue fell 10% to $132 million and its summer enrollment fell 13% to 38,627 students, while new student enrollment saw a 17% decline.
From the article:
... Shares of Strayer Education dropped $5.01, or 10.2 percent, to $44.15 in late afternoon trading after trading as low as $43.11 earlier in the day. The stock is near its November low of $42.98. It traded as high as $94.57 last July.
