October 25, 2002

U. of Phoenix Sees Surge in Revenues and Enrollments

By ELIZABETH F. FARRELL

The Apollo Group Inc., which owns the University of Phoenix, announced that its fiscal-year-end revenues had topped $1-billion, a 30-percent increase over last year's revenues of $769.4-million. The rapid growth in enrollment at the University of Phoenix and its online division was the main driver behind the surge in revenues, although growth in Apollo's other branches also contributed to the rise.

In comparison, DeVry Inc., the parent company of DeVry University, issued a statement

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