Harvard Posts Loss, Sees Revenue Dropping for Second Year
- Last time revenue fell for two consecutive years was 1930s
- Economic impact of Covid-19 was significant, Harvard says
Photographer: Adam Glanzman/Bloomberg
This article is for subscribers only.
Harvard University said its revenue will likely decline for a second straight year due to the Covid-19 crisis after it posted a $10 million operating loss in fiscal 2020.
That would be a first for the school since the 1930s, Harvard said in its annual financial report Thursday, adding that measures including coronavirus testing and tracing and reconfiguring classrooms and dorms have driven up costs.