Shares of Duolingo Inc jumped after hours Tuesday on second-quarter earnings that easily surpassed Wall Street’s expectations.
The language learning software company reported revenue of $126.8 million, up from $88.4 million in the same period last year, and earnings of $0.09 per share, compared to a loss of $0.38 per share a year ago.
Analysts had projected revenue of $123.7 million and a loss of $0.19 per share.
Those numbers were lifted by an increase in paid subscribers, which increased 59% year-over-year to 5.2 million. Subscription bookings rose 43% to $106.3 million over the same span.
Duolingo shares gained 6.6% in extended trading to $145.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel