Duolingo, the popular language-learning platform, has announced strong financial results for the latest quarter. Here are the key details:

Revenue Surge

  • Duolingo's revenue reached $126.8 million, a significant increase from $88.4 million in the same period last year. Analysts had expected revenue to be around $123.7 million, according to FactSet.

Profitability Achieved

  • The Pittsburgh-based company reported a net income of $3.7 million, or 8 cents per share, for the second quarter ending on June 30. This marks a notable turnaround from the loss of $15 million, or 38 cents per share, recorded in the previous year. Analysts had predicted a loss of $5.8 million, or 19 cents per share.

Key Metrics Demonstrating Growth

Promising Outlook

  • For the third quarter, Duolingo expects revenue in the range of $129.5 million to $132.5 million. Looking further ahead, the company has forecasted revenues between $569 million and $575 million for the year 2023. This upward revision follows a previous estimate of $552 million to $561 million for the same period.

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