Working adult education company Strategic Education Inc (SEI), which owns for-profit online Strayer University and Capella University, has reported net income of $34.2 million for the second quarter of 2020, up from net income of $24.4 million reported for Q2 2019, an increase of 40.2%.

Revenue for the quarter was up 4.4% at $255.8 million, up from $245.1 million reported for Q2 2019.

The company also announced results for the first six months of 2020, reporting net income of $69.4 million, compared to net income of $35.9 million reported for the first six months of 2019. Revenue for period was $521.1 million, up from $491.6 million reported for the first six months of 2019.

SEI chief executive Karl McDonnell said: “We are very proud of our staff and faculty’s ongoing commitment to help our students continue their educational journeys during the second quarter of 2020. As our organisation continues to adapt to the challenges presented by the Covid-19 pandemic, we remain focused on maintaining the highest level of educational quality and access while investing in strategies and opportunities to support our mission of advancing career and economic mobility for all.”

Date published: 31 July 2020

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