Shares of Strategic Education, Inc. or SEI (STRAFree Report) gained 10.6% during Wednesday’s trading session, following better-than-expected results in first-quarter 2019. The positive performance was mainly backed by strong top-line numbers across its segments, given higher enrollment and lower operating expenses.

The company reported adjusted earnings (on a pro-forma basis) of $1.66 per share, surpassing the Zacks Consensus Estimate of $1.43 by 16.1%. Also, the reported figure increased 29.1% from the year-ago quarter.

Total revenues of $246.5 million surpassed the consensus estimate of $240 million by 2.7%. Notably, the reported figure also jumped 7.9% (on a pro-forma basis) from the prior-year level.

Segment Details

SEI currently operates in three reportable segments: Strayer (accounting for 51.9% of the total revenues), Capella (46.5%) and Non-Degree Programs (1.5%).

Strayer Segment: The

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