2U at ‘turning point,’ CEO says

2U, of Landover, which provides educational and administrative software to colleges, reported a rise in net loss for the second quarter ended June 30. 2U lost $10.6 million, or 27 cents per share, compared with $9 million and $1.21 for the prior-year period. Revenue was up to $24.7 million from $18.7 million in the 2013 quarter. 2U projects revenue of up to $27.3 million for the third quarter, with a loss of up to $7.3 million. “I’m very pleased with our second-quarter results,” Chip Paucek, 2U’s chief executive officer and co-founder, said in a statement.  “… We’ve reached a turning point where, even with continued high investment for growth, our losses have stopped accelerating.”

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