Earnings Results: Duolingo stock surges after results, outlook top Street view
Duolingo Inc. shares rallied in the extended session Thursday after the language-learning platform’s quarterly results and forecast exceeded Wall Street expectations.
shares surged 15% after hours, following a 7.3% loss in the regular session to close at $71.38, or 30% below their initial public offering price in July.
The company reported a fourth-quarter loss of $17.5 million, or 46 cents a share, compared with a loss of $10.4 million, or 82 cents a share, in the year-ago period.
Revenue rose to $73 million to $48.3 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast a loss of 58 cents a share on revenue of $69 million.
Duolingo forecast second-quarter revenue of $75.5 million to $78.5 million, and revenue of $332 million to $334 million for the year.
Analysts had estimated a loss of 62 cents a share on revenue of $73.6 million for the second quarter, and revenue of $321.6 million for the year.