Thursday, February 2, 2023
HomeMarketDuolingo shares down 4% despite Q3 beat & raised outlook By Investing.com

Duolingo shares down 4% despite Q3 beat & raised outlook By Investing.com

© Reuters. Duolingo shares down 4% despite Q3 beat & raised outlook
- Advertisement -

By Davit Kirakosyan

Duolingo (DUOL) shares fell more than 4% after-hours despite the company reporting better-than-expected and raising its full-year outlook.

Q3 EPS came in at ($0.46), better than the consensus estimate of ($0.55). Total revenues grew 51% year-over-year to $96.1 million, compared to the consensus estimate of $94.52M.

Total bookings were up 41% year-over-year to $102.7M. Subscription bookings grew 42% year-over-year to $78.9M. Paid Subscribers totaled 3.7M at quarter end, representing a 68% year-over-year growth. Monthly active users (MAUs) grew 35% year-over-year to 56.5M and Daily active users (DAUs) grew 51% year-over-year to 14.9M.

“Our results this quarter speak volumes – as we continue to grow users, we are finding them more engaged and see more of them subscribing to Super Duolingo, resulting in record bookings and revenue,” said Luis von Ahn, Co-Founder and CEO of Duolingo.

The company expects Q4/22 revenue to be in the range of $98-101M, compared to the consensus estimate of $100.44M. For the full 2022 year, the company expects revenue in the range of $364-367M, compared to the consensus of $365.3M.

Story Credit: investing.com

RELATED ARTICLES
- Advertisment -

Most Popular