Why Shares of 2U Are 11% Higher Today
Shares of 2U (NASDAQ: TWOU) were up more than 11% as of 3:25 p.m. EST Friday after the online education company reported quarterly results that were better than expected and set an optimistic tone for 2020. It still has a lot of work ahead but appears to be making progress with its previously announced business transition.
After markets closed Thursday, 2U reported a fourth-quarter loss of $0.18 per share on revenue of $163 million, beating analyst expectations for a $0.22 per share loss on sales of $164 million. The company said it expects to generate sales between $170 million and $180 million in the current quarter and between $725 million and $750 million for the full year 2020; consensus expectations are for $172.45 million and $729 million, respectively.
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Source Fool.com
