LANHAM, Md. (AP) — LANHAM, Md. (AP) — 2U Inc. (TWOU) on Monday reported a loss of $42.4 million in its fourth quarter.
On a per-share basis, the Lanham, Maryland-based company said it had a loss of 52 cents. Earnings, adjusted for asset impairment costs and restructuring costs, were 48 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The online education services provider posted revenue of $255.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $275.8 million.