2U Stock Plummets After Company Slashes Launch Plans
Judging by Wednesday's 60%-plus plunge, you'd think 2U's (NASDAQ: TWOU) second-quarter 2019 results were an absolute disaster. To the contrary, the online education platform leader technically enjoyed a solid end to the first half, delivering healthy revenue growth, closing an enormous strategic acquisition, and striking a number of encouraging new partnerships.
But 2U also tempered full-year guidance for its core business for the second time in as many quarters. And this time, rising competition and a steep moderation in 2U's new program launch cadence is to blame.
Let's look closer, then, for a better idea of what 2U accomplished in the second quarter, and what investors can expect in the quarters ahead.
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