Coursera stock rises on better-than-expected sales forecast

Shares of Coursera Inc. rose after hours on Thursday after the online education platform's full-year sales forecast and first-quarter results came in above Wall Street's expectations and the company announced a stock buyback. Coursera said it expected full-year sales of $600 million to $610 million, compared with FactSet estimates for $600.9 million. First-quarter net loss was $32.4 million, or 22 cents a share, compared with $38.3 million, or 27 cents a share, in the same quarter last year. Revenue was $147.6 million, compared with $120.4 million in the prior-year quarter. Analysts polled by FactSet expected revenue of $138.5 million. Executives also said the company's board approved a share buyback program of up to $95 million, and said the company had added 10 new degree programs intended for working adults. Shares rose 2.2% after hours on Thursday. "The transformation of higher education has never been more urgent," Chief Executive Jeff Maggioncalda said in a statement. "We believe emerging AI technologies will usher in a new era of skilling imperatives for individuals, businesses, and governments globally."

-Bill Peters

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04-27-23 1718ET

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