Adtalem revenue grows 1.3% despite Walden University’s falling enrollment
Natalie Schwartz
May 3, 2023
Dive Brief:
Adtalem Global Education, a for-profit college operator, logged $369.1 million in revenue during fiscal 2023’s third quarter, reversing nearly a year of declines.
The company’s third quarter revenue is 1.3% higher than for the same period last year. Enrollment improvements at Chamberlain University, one of five colleges Adtalem operates, helped drive the increase.
But student headcounts plummeted at Walden University. The large online university has seen enrollment decline year over year in every quarter since Adtalem purchased it in 2021.
Dive Insight:
Adtalem’s institutions — which also includes the Ross University School of Medicine — are focused on training professionals to fill worker shortages in the healthcare industry. As part of that strategy, the company acquired Walden nearly two years ago for almost $1.5 billion, though the purchase also spurred executives to reign in costs.
