2U reports Q2 adjusted EPS (18c), consensus (7c)

Reports Q2 revenue $221M, consensus $234.15M. “2U’s platform strategy is thriving and delivering sustainable double-digit margins driven by content velocity, product innovation, marketing effectiveness and operational efficiency,” said Christopher “Chip” Paucek, Co-Founder and CEO of 2U. “In the 2 edX generated 44% of our organic leads and, since implementing our new marketing framework, marketing and sales expense as a percent of revenue has dropped 9%. Notably, in 2024 we plan to nearly triple our new degree launches compared to our highest launch year with at least 50 new, capital-efficient programs. We expect this momentum to continue in future years given the strength of our pipeline, popularity of our flex degree model, and promise of our flat fee model.”