Apollo Tumbles as Online Classroom Glitches Hurt 2015 Revenue
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Apollo Education Group Inc., owner of the for-profit University of Phoenix chain, fell the most since 2012 after the company said some students couldn’t connect to its new online classroom and withdrew from courses.
Revenue for the three months ended Nov. 30 was $719 million, Phoenix-based Apollo said today in a statement. Analysts had expected $728 million, according to a Bloomberg survey. Apollo fell 13 percent to $27.77 at 11:01 a.m., its biggest drop since Oct. 17, 2012.