: Coursera’s stock rallies more than 14% after company’s narrower quarterly loss, raised guidance
Shares of Coursera Inc. COUR rallied more than 14% in the extended session Thursday after the open online course provider reported a narrower-than-expected third-quarter loss and raised its revenue guidance for the year. Coursera lost $32.1 million, or 21 cents a share, in the quarter, compared with a loss of $36 million, or 25 cents a share, in the year-ago period. Revenue rose 21% to $165.5 million, the company said. FactSet consensus called for a GAAP loss of 26 cents a share on sales of $158 million. “We accelerated our AI-powered translation initiative to deliver over 4,000 courses in seven languages, broadening access to the world’s best educators and trusted brands for the millions of new learners coming to our platform,” Chief Executive Jeff Maggioncalda said in a statement. Coursera also raised its revenue outlook, calling for fourth-quarter revenue between $161 million and $165 million and 2023 revenue between $628 million and $632 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.