Earnings Results: Duolingo stock slips after earnings beat, mixed outlook

0
11

Duolingo Inc. shares fell in the extended session Thursday after the language-learning platform’s outlook offered a mixed bag while quarterly results topped Wall Street estimates.

Duolingo  DUOL, +10.06%  shares fell as much as 6% after hours, following a 10.1% rise in the regular session to close at $84.75, or 17% below their initial public offering price in July 2021.

The company reported a third-quarter loss of $18.4 million, or 46 cents a share, compared with a loss of $29 million, or 98 cents a share, in the year-ago period.

Revenue rose to $96.1 million from $63.6 million in the year-ago quarter, while bookings increased to $102.7 million, a 41% gain from a year ago.

Analysts surveyed by FactSet had forecast a loss of 55 cents a share on revenue of $95.3 million and bookings of $96 million.

Duolingo slightly hiked its outlook for the year. The company now sees revenue between $364 million and $367 million with bookings between $414 million and $417 million, up from a previous revenue range between $361 million and $367 million, and bookings between $404 million and $410 million.

Analyst expect revenue of $365.3 million for the year, and bookings of $408.3 million. For the fourth quarter, Duolingo sees $98 million to $101 million in revenue and bookings of $112 million to $115 million, while analysts expect revenue of $100.5 million and bookings of $112.8 million for the fourth quarter.

Duolingo shares have fallen 20% year to date through Thursday, while the S&P 500 index SPX, +5.54% has shed 17%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleEU cuts 2023 growth view to 0.3%, sees inflation at 6.1% on Ukraine war fallout
Next articleJPMorgan Chase hiring 50 employees in Greece for blockchain research

LEAVE A REPLY

Please enter your comment!
Please enter your name here