LANHAM, Md. (AP) _ 2U Inc. (TWOU) on Thursday reported a loss of $44.6 million in its fourth quarter.
On a per-share basis, the Lanham, Maryland-based company said it had a loss of 70 cents. Losses, adjusted for stock option expense and amortization costs, came to 18 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 22 cents per share.
The online education services provider posted revenue of $163.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $161.6 million.
For the year, the company reported that its loss widened to $235.2 million, or $3.83 per share. Revenue was reported as $574.7 million.
For the current quarter ending in April, 2U said it expects revenue in the range of $170 million to $180 million.
The company expects full-year revenue in the range of $725 million to $750 million.
2U shares have declined 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.74, a decrease of 62% in the last 12 months.