Strategic Education, Inc. (STRA) announced a significant increase in its second-quarter earnings compared to last year, surpassing Wall Street's expectations.
The company's net income for the quarter reached $29.9 million or $1.24 per share, up from $14.23 million or $0.59 per share in the same period last year.
On an adjusted basis, Strategic Education, Inc. posted earnings of $32.3 million or $1.33 per share for the quarter.
Analyst projections compiled by Thomson Reuters had anticipated earnings of $1.19 per share, excluding special items.
Revenue for the quarter grew by 8.5% to $312.27 million, compared to $287.68 million in the previous year.
In summary, Strategic Education, Inc.'s GAAP earnings for Q2 are as follows:
- Net Income: $29.9 million, up from $14.23 million last year.
- Earnings Per Share (EPS): $1.24, up from $0.59 last year.
- Revenue: $312.27 million, up from $287.68 million last year.
