Why Duolingo Stock Just Crashed 13%
Shares of Duolingo (NASDAQ: DUOL) fell 13.3% through 11:25 a.m. ET on Friday even though the language learning app maker reported an earnings beat for its fiscal third quarter.
Analysts had warned that Duolingo might lose as much as $0.55 per share for the quarter, but the company managed to dodge that particular bullet, losing only $0.46 per share instead. Sales for the quarter -- $96.1 million -- also exceeded Street expectations for $95.2 million.
Relatively speaking, all of the above is good news. Still, there's no getting around the fact that there was precious little profit to be found in Duolingo's earnings release -- which probably explains why the stock is down so much today. Still, the company did have some other promising news to report.
Source Fool.com
