UPDATE: K12 Reports Downbeat FQ3 Earnings

K12 Inc LRN reported weaker-than-expected fiscal third-quarter profit. K12 reported its FQ3 profit at $5.6 million, or $0.16 per share, versus $6.1 million, or $0.20 per share, in the year-earlier period. The company's revenue climbed 35% to $130.3 million. However, analysts were expecting earnings of $0.21 per share on revenue of $131 million. K12's operating margin for the latest quarter narrowed to 8.3% versus 10.7%. The company's average enrollment surged 47% to 101,030. LRN shares closed at $36.69 yesterday. Read more from Benzinga's Company news.