Grand Canyon Education Shrugs Off Concerns, Posts Solid Quarter
Less than two weeks ago, shares of Grand Canyon Education (NASDAQ: LOPE) took a huge hit when the Department of Education announced that students in California would not receive financial aid if they were enrolled in online programs at out-of-state, not-for-profit schools. Since the main school Grand Canyon Education services -- Grand Canyon University -- is located in Arizona, and people in California are students, that obviously had investors worried.
On Tuesday, Grand Canyon Education reported second-quarter results, and investors got another dose of news.
Grand Canyon Education (GCE) and Grand Canyon University (GCU) used to be one and the same. But the two separated last year, with GCE providing services to GCU and receiving 60% of tuition in return. The company is also free to pursue other partnerships in online program management (OPM). As I'll cover below, management teased lots of details about this in the conference call this week.
Quelle Fool.com
