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Why Duolingo Stock Soared 10% on Thursday

TheMotleyFool

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Shares of Duolingo (NASDAQ: DUOL), the AI-powered language learning company, jumped 9.5% through noon ET Thursday after crushing analyst forecasts for second-quarter earnings last night.

Heading into the quarter, Wall Street forecast Duolingo would earn $0.32 per share on sales of $177.1 million. Instead, Duolingo reported a profit of $0.51 per share. Sales were $178.3 million.

The news was actually even better than that sounds. While Duolingo beat revenue expectations by only $1.2 million (which sounds small), revenue growth year over year was an astonishing 41%. Profits, already impressive relative to what analysts predicted, grew more than sixfold compared to last year's Q2.

Source Fool.com

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