K12 reports 2Q revenue and earnings that beat the estimates of analysts

K12 Inc (NYSE:LRN),  the technology-based education company, reported fiscal second-quarter revenue and earnings that beat the estimates of analysts.

The Herndon, Virginia-based company reported revenue of $254.9 million, compared with $217.2 million a year earlier. The average estimate of analysts was for revenue of $250.8 million.

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The supplier of online curriculum posted diluted net income per share of $0.59, compared with $0.33 a year earlier. That beat the $0.56 average estimate of analysts.

As of Dec. 31, the company reported cash, cash equivalents and restricted cash of $205.3 million, a decrease of $27.8 million from June 30. On a year-over-year basis, cash, cash equivalents, and restricted cash increased $15.8 million compared with the end of 2017.

Shares of K12 gained 1.1% to $25.86 at Tuesday’s close, before the company reported its results. The stock was unchanged in after-hours trading.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors