Duolingo stock gains 8% after narrower-than-expected loss for company
Published
Nov 10 2021 at 10:52 PM GMT
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- Shares of Duolingo Inc rose more than 8% in the extended session Wednesday after the language-learning app company reported a narrower-than-expected loss and sales that were above Wall Street expectations.
- Duolingo said it lost $29 million, or 98 cents a share, in the third quarter, compared with a net loss of $3.2 million, or 25 cents a share, in the prior-year quarter.
- The company pinned the wider loss on costs related to its IPO in July.
- Revenue rose 40% to $63.6 million, the company said.
- Analysts polled by FactSet expected Duolingo to post a loss of $1.02 a share on sales of $61 million.
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- Published Nov 10, 2021 10:52 PM GMT