2U's losses continue to fall as revenues increase in Q3
- 2U reported its Q3 earnings Tuesday, with its net loss down to $7.3 million from $10.2 million in the same quarter last year as revenues rose to $28.4 million from $20.5 million.
- In addition to its previously announced new programs for 2015, the company announced that it will, pending approval, launch a Master of Science in Business Analytics as part of the Martin J. Whitman School of Management's [email protected] program.
- Prior to announcing its earnings, the company revealed a new addition to its board of directors: Edward S. Macias, Washington University in St. Louis' provost emeritus and the Barbara and David Thomas Distinguished Professor in Arts & Sciences.
In the earnings release, CEO and co-founder Chip Paucek stated that the company is continuing on its path to profitability, crediting the company's successful business model to a focus on student outcomes. Of Macias' addition to the company's board, Paucek touted his depth of experience and knowledge of institutions' challenges and opportunities, saying his perspective will be invaluable for the company's continued growth.
For more on 2U and the company's success with helping institutions take their programs online using its software-as-a-service platform, check out our interviews with Paucek and University of Southern California Rossier School of Education Dean Karen Symms Gallagher.
Follow Roger Riddell on Twitter