Why 2U Stock Plunged Today
Shares of 2U (NASDAQ: TWOU) were down a harrowing 66.2% as of 3 p.m. EDT Wednesday. The online-education platform company delivered mixed second-quarter results, then reduced the full-year outlook for its core business, and moderated plans for future graduate-program launches.
On the former, 2U's quarterly revenue climbed 39.1% year over year to $135.5 million, translating to a non-GAAP (adjusted) net loss of $25.8 million, or $0.43 per share. By comparison -- and though we don't normally pay close attention to Wall Street's demands -- most analysts were modeling a narrower loss of $0.35 per share on roughly the same revenue.
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Quelle Fool.com
