Coursera Reports Mixed Q1, Guides Q2 And FY24 Revenue Below Estimates
Portfolio Pulse from Erica Kollmann
Coursera, Inc. (NYSE:COUR) reported Q1 earnings of 7 cents per share, beating estimates, but missed sales forecasts with $169.1 million versus the expected $170.433 million. The company's sales increased by 14.53% from the previous year. Coursera's CEO highlighted efforts in expanding AI course offerings and innovations like Coursera Coach. However, Coursera's Q2 and full-year 2024 revenue guidance fell below analyst expectations, leading to a 15.98% drop in shares after-hours.
April 29, 2024 | 8:59 pm
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Coursera reported higher than expected Q1 earnings per share but missed revenue forecasts, with a significant after-hours stock price drop following lower than expected revenue guidance for Q2 and FY24.
Coursera's mixed Q1 results, combined with its lower than expected revenue guidance for the upcoming quarter and full year, have likely contributed to the negative investor sentiment, as reflected in the significant after-hours stock price drop. The company's efforts in expanding AI course offerings and innovations indicate a strategic focus on growth areas, but the immediate financial outlook has overshadowed these developments.
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