Strategic Education's (STRA) Shares Jump On Q3 Earnings Beat
Zacks Investment Research | Nov 08, 2018 10:23PM ET
Strategic Education, Inc. (NASDAQ:STRA) , or SEI reported mixed third-quarter 2018 results, wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. Nonetheless, both the top and bottom lines increased significantly on a year-over-year basis. Consequently, shares of the company rallied about 12% during yesterday’s trading session.
Adjusted earnings of 92 cents per share surpassed the consensus mark of 71 cents by 29.6%. Also, the reported figure increased significantly from 32 cents per share on a year-over-year basis.
Revenues of $160.9 million missed the consensus estimate of $185 million by 13%. Nevertheless, the reported figure improved 48.3% from the prior-year level. Meanwhile, adjusted revenues (revenues excluding deferred revenue adjustment) increased 72.5% to $187.2 million from the prior-year quarter.
Strategic Education Inc. Price, Consensus and EPS Surprise
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