2u (TWOU) Tops Q2 EPS by 3c, Revenues Beat; Offers FY18 EPS/Revenue Outlook

2u (NASDAQ: TWOU) reported Q2 EPS of ($0.19), $0.03 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $97.4 million versus the consensus estimate of $95.84 million.

Second Quarter 2018 Results

• Revenue was $97.4 million, an increase of 50% from $65.0 million in the second quarter of 2017.
• Net loss was $(18.3) million, or $(0.33) per share, compared to $(11.8) million, or $(0.25) per share, in the second quarter of 2017.
• Adjusted net loss was $(10.3) million, or $(0.19) per share, compared to $(5.2) million, or $(0.11) per share, in the second quarter of 2017.
• Adjusted EBITDA loss was $(5.6) million, compared to $(1.5) million in the second quarter of 2017.

"In the three months since our last earnings report, we've announced a total of eight new graduate programs, putting us on pace to complete our 2019 launch cohort this quarter, the earliest in 2U's history" said CEO and Co-Founder Christopher "Chip" Paucek. "Ten years in, we have a proven and unparalleled track record of delivering for our partners and their students, which continues to drive exceptional momentum in both degree and short course pipeline as well as long-term contract extensions by existing clients."

GUIDANCE:

2u sees FY2018 EPS of ($0.10)-($0.08), versus the consensus of ($0.12). 2u sees FY2018 revenue of $409.7-412.2 million, versus the consensus of $409.1 million.

For earnings history and earnings-related data on 2u (TWOU) click here.

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