LANHAM, Md. (AP) _ 2U Inc. (TWOU) on Thursday reported a loss of $66.2 million in its second quarter.
The Lanham, Maryland-based company said it had a loss of $1.03 per share. Losses, adjusted for stock option expense and to extinguish debt, came to 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 44 cents per share.
The online education services provider posted revenue of $182.7 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $175.1 million.
2U shares have increased 83% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.87, an increase of 20% in the last 12 months.