TTOO - Why Is QuantaSing (QSG) Stock Up 25% Today?
2023-06-01 08:17:13 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
QuantaSing (NASDAQ: QSG ) stock is on the rise Thursday following the release of the company’s earnings report for fiscal Q3 2023 .
The good news for OSG stock starts with the company’s adjusted earnings per share of 13 cents. That’s an improvement from the 10 cents that the education technology platform reported during the same period of the year prior.
To go along with that, QuantaSing reported a revenue of 807.24 million yuan. Yet again, that’s an improvement year-over-year (YOY) for the company. This time it represents a 16.8% gain from the 690.91 million yuan.
Dong Xie, Chief Financial Officer of QuantaSing, said the following in the earnings report:
“We maintained our growth momentum during the third quarter of FY 2023, driven by robust demand for our individual online learning services and enterprise services. In addition to our solid top line growth, we continued to add new registered users and increase our paying learners, and boosted our repeat purchase rate.”
QSG Stock Outlook
The latest earnings report also comes with a new outlook for fiscal 2023. In that outlook, QuantaSing predicts that its revenue for the year will range from 760 million yuan to 790 million yuan. That would have its revenue rising between 20.8% to 25.6% YOY.
OSG stock is seeing more than 205,000 shares change hands as of Thursday morning. That’s well above its daily average trading volume of around 31,000 shares. It also has the company’s stock up 24.7% as of this writing.
There’s more stock market news traders will want to know about below!
We’ve got all of the latest news that traders need to know about on Thursday! Our coverage includes everything happening with shares of T2 Biosystems (NASDAQ: TTOO ) stock, the biggest pre-market stock movers this morning, and more. All of that news is ready at the following links!
More Thursday Stock Market News
- Why Is T2 Biosystems (TTOO) Stock Up 29% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Better Stock to Sell: Mullen (MULN) Stock or Bed Bath & Beyond (BBBYQ) Stock?
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that?InvestorPlace.com’s writers disclose this fact and warn readers of the risk.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
More From InvestorPlace
- Buy This $5 Stock BEFORE This Apple Project Goes Live
- The Best $1 Investment You Can Make Today
- Wall Street Titan: Here’s My #1 Stock for 2023
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Why Is QuantaSing (QSG) Stock Up 25% Today? appeared first on InvestorPlace .