Nerdy Stock Surged 44% Last Week. Here's Why.
Shares of Nerdy (NYSE: NRDY) soared 44% last week, according to data from S&P Global Market Intelligence. Investors cheered the online education company's successful transition to a membership business model.
Nerdy's revenue declined less than 1% year over year to $41.8 million in the fourth quarter. That was above management's guidance of $39 million to $41 million and Wall Street's expectations of $40 million. For the full year, Nerdy's revenue's revenue grew 16% to $162.7 million in 2022.
Notably, learning memberships accounted for 50% of Nerdy's total revenue in the fourth quarter, up from 18% in the third quarter.
Source Fool.com
