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2U posts loss, but smaller one

Landover-based 2U, which provides cloud-based education-related software, cut its net loss for the fourth quarter. 2U reported a net loss of $4.0 million, or 10 cents per share, for the quarter ended Dec. 31, compared with $5.3 million and 70 cents for the prior-year period. For the year, net loss increased to $29.0 million from $28.0 million in 2013. Revenue for 2014 increased 32.6 percent to $110.2 million from $83.1 million in the previous year. “2014 was a milestone year for 2U,” Chip Paucek, 2U’s chief executive officer and co-founder, said in a statement. “… The stellar outcomes from our clients’ students are clearly showing that this form of online education is as good as, and in some cases better than, on-campus education.”