Why K12 Stock Popped 5% Today
Shares of e-learning curriculum provider K12 (NYSE: LRN) got high marks from investors Tuesday. The company's shares were up 4.9% at 2:20 p.m. EDT today after K12 surprised investors last night with a $0.30 per share profit in the 2021 first quarter, when Wall Street had predicted a loss of $0.31.
K12 had a loss of $0.25 per share in last year's Q1 before delivering a profit this year. It beat on revenue, too, reporting $371 million for its fiscal first quarter instead of the predicted $362.5 million. Those sales were up 44% year over year, and total enrollment at K12 has now hit 195,000, up 57% year over year.
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Source Fool.com
