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2U cuts loss, increases revenue

2U Inc., of Landover, a provider of cloud-based software for nonprofit colleges, reported an increase in revenue and decrease in loss for the third quarter. Net loss was $7.3 million, or 18 cents per share, compared with $10.2 million, or $1.38 per share, for the third quarter of 2013. Revenue increased by 39 percent to $28.4 million, up from $20.5 million in last year’s same period. “We had a very strong quarter across all of our financial measures and are increasing our expectations for the full year.  … We are pleased to continue on a path to profitability, driven by solid financial results, predictability of existing program growth and high visibility into the new program pipeline,” Chip Paucek, 2U’s chief executive officer and co-founder, said in a statement.