Career Education's stock jumps after company posts narrower-than-expected 4th-quarter loss

MarketsAssociated Press

Shares of Career Education Corp. surged in after-market trading Tuesday after the for-profit education company posted a smaller quarterly loss than Wall Street expected.

The Schaumburg, Illinois-based company reported a loss of $25.5 million in its fourth quarter, or 38 cents per share. Losses, adjusted to account for discontinued operations, came to 12 cents per share.

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Analysts were expected an adjusted loss of 29 cents a share, according to FactSet.

The company posted revenue of $174.2 million in the period. That was below expectations of $232.5 million, according to FactSet.

A year ago, Career Education posted a fourth-quarter loss of $30.6 million, or 46 cents a share, on revenue of $199.4 million.

For the year, the company reported that its loss widened to $178.2 million, or $2.65 per share, from $164.3 million, or $2.46 a share. Revenue was reported as $741.4 million, down from $839.7 million.

Career Education's stock was up 67 cents, or 13 percent, to $5.90 in extended trading following the earnings report. Through the end of regular-session trading Tuesday, the shares have declined 26 percent since the beginning of the year.


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Keywords: Career Education, Earnings Report