2U shares tumble after Q4 loss, FY guidance disappoint

2U

10/02/2022 17:53

** Shares in online education co 2U Inc  TWOU.O  down 48.5%
at $9.25, on track for biggest one-day pct drop since July 2019 
    ** Co forecasts a deeper net loss for 2022 than 2021,
reports wider Q4 GAAP loss than expected even as rev beat Street
    ** 2U shares hit a record low of $9.27 during the session
with trading volume at highest level since July 31, 2019 after
it widened its FY loss per share forecast for the third time 
    ** Reports Q4 GAAP loss of $0.89/shr vs Wall Street est for
loss of $0.86, while rev was $243.6mln vs $243.00mln consensus
view, according to Refinitiv  urn:newsml:reuters.com:*:nL4N24W43K
    ** Sees 2022 net loss of $235 mln-$215 mln vs FY 2021 loss
of $194.8mln
    ** TWOU forecast rev range of $1.05 bln-$1.09 bln,
represents 13% growth at midpoint
    ** Co forecast 2022 adj. EBITDA range of $70 mln-$90 mln,
representing growth of 20% at the midpoint
    ** Stock is down 53.7% YTD vs 49.8% drop in 2021

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))