Pre-market movement | Duolingo plummets over 21%, Q4 booking guidance below expectations
On November 6th (Thursday), Duolingo's stock plummeted over 21% in pre-market trading, as its Q4 booking guidance fell short of expectations and daily active user growth may slow down. In terms of news: Duolingo announced its third-quarter results, with revenue of $271.7 million, a year-on-year increase of 41%, exceeding analysts' expectations of $260.3 million; earnings per share were $5.95, also surpassing the expected $5.19. During the period, the number of paying users grew by 34%, reaching 11.5 million. Looking ahead to the fourth quarter, the company expects bookings to be between $329.5 million and $335.5 million, lower than the market's expectation of $343.6 million; at the same time, it anticipates that the growth rate of daily active users will slow down compared to the 36% in the third quarter, but the stable trends in September and October indicate that the year-on-year growth rate will still be around 30%
On November 6th (Thursday), Duolingo's stock plummeted over 21% in pre-market trading, as Q4 booking guidance fell short of expectations, and the growth rate of daily active users may slow down.
In terms of news:
Duolingo announced its third-quarter results, with revenue of $271.7 million, a year-on-year increase of 41%, exceeding analysts' expectations of $260.3 million; earnings per share were $5.95, also surpassing the expected $5.19. During the period, the number of paid users grew by 34%, reaching 11.5 million. Looking ahead to the fourth quarter, the company expects bookings to be between $329.5 million and $335.5 million, lower than the market's expectation of $343.6 million; at the same time, it anticipates that the growth rate of daily active users will slow compared to the 36% in the third quarter, but the stable trends in September and October indicate that the year-on-year growth rate will still maintain around 30%
