2U: 2Q Earnings Snapshot
LANHAM, Md. (AP) _ 2U Inc. (TWOU) on Tuesday reported a loss of $28 million in its second quarter.
On a per-share basis, the Lanham, Maryland-based company said it had a loss of 46 cents. Losses, adjusted for one-time gains and costs, were 43 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The online education services provider posted revenue of $135.5 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $124.8 million.
For the current quarter ending in October, 2U expects its results to range from a loss of 53 cents per share to a loss of 49 cents per share.
The company said it expects revenue in the range of $147.6 million to $152.6 million for the fiscal third quarter.
2U expects full-year results to range from a loss of $1.25 per share to a loss of $1.16 per share, with revenue ranging from $565.7 million to $575.7 million.
2U shares have declined 27% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.50, a drop of 52% in the last 12 months.