Stock Track | Strayer Education Plummets 10.11% at Open After Missing Q1 Revenue and EPS Estimates
Stock Track
Apr 23
Strayer Education's stock plummeted 10.11% in intraday trading on Thursday, following the release of its first-quarter financial results.
The sharp decline was driven by the company's results falling short of analyst expectations. Strategic Education reported Q1 adjusted earnings per share of $1.41, missing the consensus estimate of $1.49. Revenue for the quarter was $305.9 million, also below the expected $309.67 million.
While the company showed year-over-year growth in both revenue and adjusted earnings, the miss on these key financial metrics led to negative investor sentiment. The weakness was attributed to a 3.8% decline in U.S. Higher Education revenue, offset partially by strong growth in Education Technology Services.
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