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Grand Canyon Education: 3Q Earnings Snapshot

·1 min read

PHOENIX (AP) _ Grand Canyon Education Inc. (LOPE) on Thursday reported third-quarter profit of $52 million.

On a per-share basis, the Phoenix-based company said it had net income of $1.11. Earnings, adjusted for amortization costs, came to $1.14 per share.

The for-profit education company posted revenue of $198.4 million in the period.

For the current quarter ending in December, Grand Canyon Education expects its per-share earnings to be $1.80.

The company said it expects revenue in the range of $236 million for the fiscal fourth quarter.

Grand Canyon Education expects full-year earnings to be $5.50 per share, with revenue expected to be $841.8 million.

Grand Canyon Education shares have dropped 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $83.91, a decrease of almost 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOPE at https://www.zacks.com/ap/LOPE