2u (TWOU) Tops Q1 EPS by 10c, Revenues Beat

2u (NASDAQ: TWOU) reported Q1 EPS of ($0.33), $0.10 better than the analyst estimate of ($0.43). Revenue for the quarter came in at $175.5 million versus the consensus estimate of $173.75 million.

"Our first quarter results clearly show the strength, resilience, and relevance of our business and offerings," said Christopher "Chip" Paucek, 2U's Co-Founder and CEO. "Since the beginning of the COVID-19 pandemic, our operations and all 2U-powered educational offerings are running and enrolling new students. We believe the unprecedented impact of COVID-19 will continue to accelerate demand among universities and adult learners for high-quality online education across the Career Curriculum Continuum, and 2U is uniquely positioned to help existing and new partners meet this need now and in the future."

Chief Financial Officer Paul Lalljie commented, "I'm very pleased with our first quarter results, which demonstrate the strong fundamentals of our business in the midst of one of the most uncertain periods in history. As demand for online education increases, we are in an excellent position to provide a range of solutions for our university partners and their students. Our recent convertible note offering bolstered our balance sheet, and we remain focused on disciplined execution of our strategic priorities and driving towards positive free cash flow."

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

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