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2U Inc. Q1 loss narrows YOY

2U Inc. said its normalized net income for the first quarter amounted to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

The per-share loss narrowed 44.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.1 million, compared with a loss of $3.4 million in the prior-year period.

The normalized profit margin climbed to negative 4.5% from negative 9.9% in the year-earlier period.

Total revenue rose 37.1% year over year to $47.4 million from $34.6 million, and total operating expenses rose 27.3% from the prior-year period to $50.9 million from $40.0 million.

Reported net income totaled a loss of $3.4 million, or a loss of 7 cents per share, compared to a loss of $5.5 million, or a loss of 13 cents per share, in the year-earlier period.