Online Learning Platform Udemy Shares Tumbled, Cuts Outlook
Portfolio Pulse from Lekha Gupta
Udemy, Inc. (NASDAQ: UDMY) shares fell after reporting Q2 FY24 revenue growth of 9% Y/Y to $194.4 million, beating estimates. Despite growth in the Enterprise Segment, the Consumer Segment saw declines. The company cut its FY24 revenue outlook and shares dropped 17.76% premarket.
August 01, 2024 | 2:53 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Udemy shares dropped 17.76% after reporting Q2 FY24 revenue growth of 9% Y/Y to $194.4 million, beating estimates. The company cut its FY24 revenue outlook, citing declines in the Consumer Segment.
Despite beating revenue estimates, Udemy's reduction in FY24 revenue outlook and declines in the Consumer Segment led to a significant drop in share price. The market reacted negatively to the lowered guidance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100