Coursera's stock rallies more than 14% after company's narrower quarterly loss, raised guidance
Shares of Coursera Inc. (COUR) rallied more than 14% in the extended session Thursday after the open online course provider reported a narrower-than-expected third-quarter loss and raised its revenue guidance for the year. Coursera lost $32.1 million, or 21 cents a share, in the quarter, compared with a loss of $36 million, or 25 cents a share, in the year-ago period. Revenue rose 21% to $165.5 million, the company said. FactSet consensus called for a GAAP loss of 26 cents a share on sales of $158 million. "We accelerated our AI-powered translation initiative to deliver over 4,000 courses in seven languages, broadening access to the world's best educators and trusted brands for the millions of new learners coming to our platform," Chief Executive Jeff Maggioncalda said in a statement. Coursera also raised its revenue outlook, calling for fourth-quarter revenue between $161 million and $165 million and 2023 revenue between $628 million and $632 million.
-Claudia Assis
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
10-26-23 1635ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks