Jumps on better-than-expected Q2 results

Aspen

11/12/2019 18:32

** Shares of distance-learning company  ASPU.O  jump 12% to
$7.75, a 15-month high, following better-than-expected Q2
results on Tuesday after the bell
    ** Stock among biggest gainers across U.S. exchanges and set
for best day in five months 
    ** Aspen Group posted loss of 3 cents/share in Q2, beating
Wall Street expectations of loss of 7 cents, per IBES data from
Refinitiv
    ** ASPU beat revenue estimates for fourth consecutive
quarter, driven by 42% year-over-year increase in number of
students enrolled at its Aspen University and United States
University in Q2
    ** Bookings in Q2 increased by 92%, while average revenue
per enrollment or ARPU increased by 35% - CEO Michael Mathews
    ** ASPU sees FY revenue growth to meet or exceed 41%
    ** "Management has found the key to both high growth and
eventual profitability, and we expect the business to grow into
multiples of its current size" - Craig-Hallum analyst Mike
Malouf
    ** At least four brokerages raised ASPU's PT following
results, with median PT now at $11 - 59% above last close
    ** More than 370,000 shares traded, more than 5 times their
25-day moving average volume
    ** Including session's gain, stock up 41% YTD, after falling
39% last year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))