Stride rises after beating quarterly estimates, raising forecast

Stride

26/04/2023 18:45

** Shares of online education provider Stride  LRN.N  rise
as much as 16.5% to $44
    ** Co now expects its FY23 revenue in range of $1.805 bln-
$1.825 bln vs previous forecast range of $1.775 bln- $1.815 bln
    ** Updated FY23 forecast is above analysts' expectations of
$0.46 bln
    ** Also posts Q3 adj. EPS of $1.30​​, beating analysts'
estimates of $1.07
    ** Co reports better-than-expected Q3 revenue of $470.28 mln
vs analysts' estimates of $456.43 mln, driven by enrolment
strength
    ** Four of five analysts rate the stock "buy" or higher,
while one rates it "hold"; median PT $50 – Refinitiv data
    ** Including session's gains, stock has risen 39.45% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))