Duolingo (NASDAQ: DUOL) stock gained 22.1% in Wednesday's after-hours trading, following the educational technology company's release of a strong fourth-quarter 2023 report.

The stock's big rise is attributable to the quarter's revenue and earnings beating Wall Street's consensus estimates, along with first-quarter and full-year 2024 revenue guidance coming in higher than analysts had been expecting.

Data source: Duolingo.

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Source Fool.com