Jernej Furman
The firm raised its yearly revenue forecast, highlighting the robust increase in its users, partially attributed to the implementation of AI solutions. Duolingo's stock price jumped by 30% during trading on Thursday.
According to the company's press release, the net profit for April-June was $44.78 million, in comparison to $24.35 million during the identical timeframe last year. Earnings per share rose to $0.91 up from $0.51.
Duolingo's quarterly revenue rose 41% to $252.27 million, exceeding Wall Street's consensus of $241 million.
The platform's daily active users surged by 40% to 47.7 million, rising from 34.1 million the previous year. The count of paying subscribers rose 37% to 10.9 million by the end of June, while subscription income climbed 46% to $210.7 million.
source: bloomberg.com
According to the company's press release, the net profit for April-June was $44.78 million, in comparison to $24.35 million during the identical timeframe last year. Earnings per share rose to $0.91 up from $0.51.
Duolingo's quarterly revenue rose 41% to $252.27 million, exceeding Wall Street's consensus of $241 million.
The platform's daily active users surged by 40% to 47.7 million, rising from 34.1 million the previous year. The count of paying subscribers rose 37% to 10.9 million by the end of June, while subscription income climbed 46% to $210.7 million.
source: bloomberg.com