Why Technology-Based Education Company Stride's Shares Are Shooting Higher Today
Portfolio Pulse from Lekha Gupta
Stride Inc's Q1 FY24 results exceeded expectations, with revenue of $480.2 million, a 12.9% Y/Y increase, beating the consensus of $451.2 million. The company's EPS of $0.11 also surpassed the estimated loss of $(0.35). Stride's shares are trading higher by around 16% following the announcement. The company's outlook for Q2 and FY24 also exceeds estimates.
October 25, 2023 | 11:42 am
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POSITIVE IMPACT
Stride Inc's better-than-expected Q1 FY24 results and positive outlook for Q2 and FY24 have led to a significant increase in its share price.
Stride Inc reported Q1 FY24 results that exceeded expectations, with a significant Y/Y increase in revenue and a positive EPS against an estimated loss. This positive financial performance, coupled with a strong outlook for Q2 and FY24, has led to a surge in the company's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100