Efficiency at a look:
- Income decreased to $199.8 million within the quarter ended June 30, 2022, down 0.9% from the yr earlier than.
- Prices and bills elevated to $165.9 million, up 9.7% from the yr earlier than.
- Revenue decreased to $25.6 million, down 48.3% from the yr earlier than.
What it’s good to know:
Grand Canyon Schooling, or GCE, offers companies akin to advertising and marketing and recruitment to its largest shopper, Grand Canyon College, in alternate for a reduce of the establishment’s tuition income. However enrollment on the college fell to 92,233 college students by the tip of June, down 5.7% from the identical interval final yr. These declines had been pushed by a lower in on-line enrollments, pushing down the corporate’s income.
Nonetheless, GCE earned extra income per scholar. That development was pushed by the college rising room, board and different auxiliary income in 2022’s first half in comparison with the identical interval within the prior yr.