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Apollo Education profit plunges 66 pct as enrollments fall

For-profit education provider Apollo Education's quarterly profit plunged nearly 66 percent as student enrollments fell.

New degreed enrollments at Apollo's flagship University of Phoenix fell 5 percent to 39,600 in the first quarter.

Net income attributable to Apollo fell to $33.8 million, or 31 cents per share, in the quarter ended Nov. 30 from $98.9 million, or 87 cents per share, a year earlier.

Excluding items, the company earned 44 cents per share.

Revenue fell 15.2 percent to $719.1 million.