2U Q2 Loss Widens

(RTTNews) - 2U, Inc. (TWOU) Tuesday reported second-quarter loss of $28.0 million or $0.46 per share, compared to $18.3 million or $0.33 per share last year.

Adjusted loss was $25.8 million or $0.43 per share, compared to $10.3 million or $0.19 per share last year.

Revenues for the quarter jumped 39% to $135.5 million from $97.4 million a year ago.

Analysts polled by Thomson Reuters estimated loss of $0.35 per share and revenues of $124.36 million.

Looking forward to the third quarter, the company estimates revenues of $147.6 million to $152.6 million and loss of $1.10 to $1.05 per share. Analysts currently estimate loss of $0.35 per share on revenues of $137.7 million for the quarter.

For the full year 2019, the company estimate loss of $2.57 to $2.47 per share and revenues of $565.7 million to $575.7 million. Analysts currently estimate loss of $0.32 per share and revenues of $533.22 million. Shares of 2U plunged 25% in after hours trading.