UPDATE 1-DeVry Q1 results top market
* Q1 EPS $0.76 vs. est. EPS $0.65
* Q1 rev $431.1 mln vs. est. $418.1 mln
Oct 27 (Reuters) - Education company DeVry Inc (DV.N) posted better-than-expected quarterly profit, helped by a rise in total graduate coursetakers at DeVry University.
For the first quarter ended Sept. 30, the company posted a profit of $54.7 million, or 76 cents a share, compared with $34.8 million, or 48 cents a share, a year ago.
Revenue rose 42 percent to $431.1 million.
Analysts on average expected earnings of 65 cents a share, on revenue of $418.1 million, according to Thomson Reuters I/B/E/S.
For the September 2009 session, total graduate course takers at DeVry University, including its Keller Graduate School of Management, increased 15.2 percent.
However, shares of DeVry fell as its peer Apollo Group Inc (APOL.O) said that the Securities and Exchange Commission launched an informal probe over Apollo's revenue recognition practices. [ID:nN27264498]
DeVry, on its conference call with analysts, said that it had no issues with revenue recognition.
Shares of DeVry were down 2 percent at $54.01 in trading after the bell. They closed at $54.88 Tuesday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Unnikrishnan Nair)
