Why Duolingo Stock Soared 10% on Thursday
Shares of Duolingo (NASDAQ: DUOL), the AI-powered language learning company, jumped 9.5% through noon ET Thursday after crushing analyst forecasts for second-quarter earnings last night.
Heading into the quarter, Wall Street forecast Duolingo would earn $0.32 per share on sales of $177.1 million. Instead, Duolingo reported a profit of $0.51 per share. Sales were $178.3 million.
The news was actually even better than that sounds. While Duolingo beat revenue expectations by only $1.2 million (which sounds small), revenue growth year over year was an astonishing 41%. Profits, already impressive relative to what analysts predicted, grew more than sixfold compared to last year's Q2.
Source Fool.com
