2U, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 10, 2023 at 03:16 am IST
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2U, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 229.7 million compared to USD 232.24 million a year ago. Net loss was USD 47.44 million compared to USD 121.68 million a year ago. Basic loss per share from continuing operations was USD 0.58 compared to USD 1.57 a year ago.
For the nine months, sales was USD 690.29 million compared to USD 727.03 million a year ago. Net loss was USD 275.16 million compared to USD 310.31 million a year ago. Basic loss per share from continuing operations was USD 3.42 compared to USD 4.03 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. 
