Stride's Q2 Performance Tops Street Expectations, Raises FY24 Revenue Outlook
Portfolio Pulse from Ryan Gustafson
Stride, Inc. (NYSE:LRN) reported Q2 earnings of $1.54 per share, beating expectations of $1.31 and showing a 29.41% increase from the previous year. Sales reached $504.87 million, exceeding estimates of $500.85 million and marking a 10.13% year-over-year increase. General Education enrollments grew by 8.5%. Adjusted EBITDA was $118.3 million, up from $100.5 million in the same quarter last year. Stride raised its FY24 revenue outlook from $1.96-$2.03 billion to $1.99-$2.04 billion, above the $2 billion estimate. Shares rose 3.08% to $64.00 in after-hours trading.
January 23, 2024 | 10:06 pm
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POSITIVE IMPACT
Stride, Inc. reported strong Q2 earnings and sales, surpassing expectations and showing significant year-over-year growth. The company also raised its FY24 revenue forecast, indicating confidence in continued growth.
Stride's positive earnings report and raised revenue outlook are likely to instill investor confidence and could lead to a short-term increase in stock price. The after-hours trading already reflects a positive investor response with a 3.08% increase in share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100