COUR - Why Coursera Stock Exploded 51% Higher Today
2024-07-26 10:29:35 ET
Coursera (NYSE: COUR) stock charged out of the gate Friday morning, surging 51% through 9:40 a.m. ET after announcing beats on both top and bottom lines.
Heading into Coursera's second-quarter report last night, analysts forecast the online education company would earn a $0.01 per share adjusted profit on sales of $164.4 million. Coursera beat both predictions, however, reporting adjusted profits of $0.09 per share and sales of $170.3 million.
Not all the news was good. Although Coursera grew sales by 11% year over year and moved beyond last year's break-even profit to a positive "adjusted" profit, the company didn't earn a generally accepted accounting principles (GAAP) profit. When calculated according to GAAP , Coursera's "earnings" were actually a $0.15 per share loss.
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Why Coursera Stock Exploded 51% Higher Today