LRN - Why Stride Stock Jumped 19.4% This Week
2023-10-26 18:18:50 ET
Shares of Stride (NYSE: LRN) were up 19.4%, according to data provided by S&P Global Market Intelligence , after the online education platform company announced better-than-expected fiscal first-quarter results.
Indeed, the bulk of Stride's pop this week came on Wednesday, the first trading day after its quarterly update hit the wires.
For its fiscal first-quarter 2024 ended Sept. 30, 2023, Stride's revenue grew 12.9% year over year to $480.2 million, well above Wall Street's consensus estimates of $450.8 million. On the bottom line, Stride achieved net income of $4.9 million, or $0.11 per share, swinging from a loss of $0.54 per share in the same year-ago period. Analysts, on average, were anticipating a quarterly loss of $0.30 per share.
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Why Stride Stock Jumped 19.4% This Week