Perdoceo Education (PRDO) Initiates Dividend, Stock Soars

Perdoceo Education (PRDO) blew away all expectations with its quarterly report last night. Indeed, driven by contributions from its recent acquisitions of Coding Dojo and California Southern University and the further improvement in student retention and engagement that’s been supported by various operating changes and technology upgrades within PRDO’s onboarding, academic and student support processes, Q2 revenue climbed 11.3% from the prior year to $186.6 million, which easily beat the $179.4 million analyst forecast. And with PRDO also continuing to do an excellent job enhancing operating efficiencies in admissions and marketing, adjusted earnings jumped 45.2% to 61 cents per share, which was 9 cents better than expected.