Shares of online education company Coursera (NYSE: COUR) jumped 29.9% during July, according to data provided by S&P Global Market Intelligence. The stock was actually up 50% for the month at one point before coming back down from its July highs. And the giant spike in price was catalyzed by the company's quarterly financial results.

On July 25, Coursera reported financial results for the second quarter of 2024. Revenue was up 11% to $170 million, and free cash flow hit $17 million compared to the negative free cash flow of $12 million in the prior-year period. However, investors seemed more enthralled by commentary regarding artificial intelligence (AI).

According to Coursera's management, over two million people have enrolled in generative AI courses and related materials. For perspective, the company only just launched its Generative AI Academy earlier this year, so this is a rapid adoption rate. That said, it is still a fraction of its 155 million registered users.

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Source Fool.com