LANDOVER, Md. (AP) _ 2U Inc. (TWOU) on Thursday reported a loss of $2.2 million in its fourth quarter.
The Landover, Maryland-based company said it had a loss of 5 cents per share. Earnings, adjusted for stock option expense, came to 4 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The online education services provider posted revenue of $57.4 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $56.4 million.
For the year, the company reported that its loss narrowed to $20.7 million, or 44 cents per share. Revenue was reported as $205.9 million.
For the current quarter ending in April, 2U said it expects revenue in the range of $63.6 million to $64 million.
The company expects full-year results to range from a loss of 15 cents per share to a loss of 11 cents per share, with revenue ranging from $267.6 million to $269.8 million.
2U shares have risen 21 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $36.55, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWOU at https://www.zacks.com/ap/TWOU
Keywords: 2U, Earnings Report