2U, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:07 pm EDT
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2U, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 222.09 million compared to USD 241.46 million a year ago. Net loss was USD 173.65 million compared to USD 62.85 million a year ago. Basic loss per share from continuing operations was USD 2.16 compared to USD 0.82 a year ago.
For the six months, sales was USD 460.59 million compared to USD 494.79 million a year ago. Net loss was USD 227.72 million compared to USD 188.63 million a year ago. Basic loss per share from continuing operations was USD 2.85 compared to USD 2.46 a year ago.
2U, Inc. is an online education platform company. The Company's segments include Degree Program Segment and Alternative Credential Segment. Degree Program Segment provides technology and services to nonprofit colleges and universities to enable the online delivery of degree programs. Students enrolled in these programs are seeking an undergraduate or graduate degree. Alternative Credential Segment provides premium online open courses, executive education offerings, technical, skills-based boot camps to individual consumers through relationships with nonprofit colleges and universities and other organizations. It also offers an enterprise solution that it sells to organizations and institutions to enable upskilling and reskilling of their workforces. Through edX, its education consumer marketplace, the Company offers more than 4,500 online learning opportunities. Its offerings cover a range of topics, including artificial intelligence, business, healthcare, education, and social work.
2U, INC. 
