Duolingo rallies after second-quarter results beat expectations
Shares of Duolingo Inc. were up 8% after hours on Tuesday after the language-learning app reported second-quarter results that beat expectations, helped by a jump in paid subscribers. The company reported net income of $3.7 million, or 9 cents a share, contrasting with a loss of $15 million, or 38 cents a share, in the same quarter last year. Revenue rose to $126.8 million, compared with $88.4 million in the prior-year quarter. Analysts polled by FactSet expected a 19-cent per-share loss on revenue of $123.7 million. Total bookings jumped 41% to $137.5 million, with subscription bookings up 43% to $106.3 million. Paid subscribers were 5.2 million, a 59% increase.
-Bill Peters
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
08-08-23 1634ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits
-
Novo Nordisk Earnings: Raised Fair Value Estimate Still a Contrast to Market Overenthusiasm
-
After Earnings, Is Verizon Stock a Buy, a Sell, or Fairly Valued?
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month