Capella Education reports net income fell 25 percent in 2Q

The Minneapolis-based for-profit education provider reports total active student enrollment in the second quarter fell 4.6 percent and new enrollment declined by 6 percent. Capella says third-quarter enrollment could increase for the first time in nearly two years.
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The Minneapolis-based for-profit education provider reports total active student enrollment in the second quarter fell 4.6 percent and new enrollment declined by 6 percent. Capella says third-quarter enrollment could increase for the first time in nearly two years.

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Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.

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