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Why Stride Stock Surged 16% Wednesday Morning

TheMotleyFool 
0 0 25.10.23
Why Stride Stock Surged 16% Wednesday MorningPhoto, wide shot, wide-angle lens, Laundry service, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/7d06f1e2-46d1-4cac-90e0-6cc2313e43fe.png
 

Shares of online educational software company Stride (NYSE: LRN), formerly known as K12, surged 16% through 10:05 a.m. ET after delivering a surprise earnings beat Wednesday morning.

Heading into the company's fiscal Q1 2024, analysts had forecast Stride would lose $0.35 per share on sales of $451.2 million. Instead, Stride earned an $0.11-per-share profit, beating sales estimates as well with $480.2 million in quarterly revenue.  

Quarterly sales climbed 13% year over year (YOY) to set a new quarterly record for Stride. But even better than that was the earnings news: Instead of the loss that Wall Street had predicted, Stride reported operating and net profits, flipping from a $0.54-per-share loss last year to an $0.11-per-share profit this time around.  

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Source Fool.com

Stride Inc. Stock

€73.00
0.000%
There is no change in the price for Stride Inc. today.
Stride Inc. is currently one of the favorites of our community with 8 Buy predictions and no Sell predictions.
As a result the target price of 106 € shows a positive potential of 45.21% compared to the current price of 73.0 € for Stride Inc..
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