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What's happening?
Shares of American Public Education (NASDAQ:APEI) are up 13% today after reporting better-than-expected third-quarter earnings  before the opening bell.

Why it's happening
American Public Education's $84.7 million in revenue beat the Wall Street consensus of $82.7 million, and it also met bottom-line expectations with earnings of $0.51 per share, in line with the analyst consensus. The for-profit educator now expects to earn between $88.7 million and $90.4 million in revenue for the fourth quarter, which is based on guidance calling for 7% to 9% year-over-year growth over the fourth quarter  of 2013. This should result in earnings in the range of $0.50 to $0.54 per share. Both results top Wall Street's  fourth-quarter consensus, which had called for $85.9 million in revenue and $0.52 in EPS.