Apollo Education profit falls as enrollments drop

June 25 Wed Jun 25, 2014 7:48am EDT

June 25 (Reuters) - University of Phoenix owner Apollo Education Group reported a 17 percent drop in quarterly profit as new enrollments fell sharply.

Net income attributable to Apollo fell to $66 million, or 59 cents per share in the third quarter ended May 31, from $80 million, or 71 cents per share, a year earlier. [ID:nBw6sFMbba ]

Excluding items, the for-profit education provider earned 76 cents per share.

Revenue fell 15.5 percent to $799.9 million.

New student enrollments at the University of Phoenix fell 12.9 percent to 33,900. (Reporting By Abinaya Vijayaraghavan; Editing by Sriraj Kalluvila)