Benzinga | Oct 27, 2020 04:27PM EDT

Recap: 2U Q3 Earnings

Shares of 2U (NASDAQ:TWOU) moved lower by 10.6% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 41.46% year over year to ($0.24), which beat the estimate of ($0.25).

Revenue of $201,073,000 rose by 30.74% from the same period last year, which beat the estimate of $188,560,000.

Outlook

2U Sees FY20 Sales $760M-$775M vs $743.47M Estimates

Details Of The Call

Date: Oct 27, 2020

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/hdc4mmav

Recent Stock Performance

52-week high: $49.46

52-week low: $11.51

Price action over last quarter: down 20.71%

Company Description

2U Inc provides educational technology services for nonprofit colleges and universities. It builds, delivers, and monitors educational platforms that enable online delivery of degree programs and alternative credentials such as short technical courses. The company provides cloud-based software-as-a-service platform and various technology-enabled services such as learning technology, live class application monitoring, content development, marketing, among others that help its clients to reach students globally. It is organized in two reportable business segments: graduate program segment and alternative credential segment. The vast majority of revenue comes from the company's graduate program segment, and most of the company's revenue is earned in the United States.