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Grand Canyon Education: 4Q Earnings Snapshot

Grand Canyon Education: 4Q Earnings Snapshot

PHOENIX (AP) _ Grand Canyon Education Inc. (LOPE) on Wednesday reported fourth-quarter profit of $75.5 million.

The Phoenix-based company said it had profit of $1.56 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The for-profit education company posted revenue of $177.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $175.3 million.

For the year, the company reported profit of $229 million, or $4.73 per share. Revenue was reported as $845.5 million.

For the current quarter ending in April, Grand Canyon Education said it expects revenue in the range of $195.5 million.

The company expects full-year earnings to be $5.10 per share, with revenue expected to be $775.5 million.

Grand Canyon Education shares have risen 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $97.16, a climb of 6 percent 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

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