Duolingo Inc (NASDAQ:DUOL) is trading higher Friday after the company reported better-than-expected financial results and issued guidance above estimates.
Duolingo said fourth-quarter revenue increased 51% year-over-year to $73 million, which beat the $68.88 million estimate. The company reported a quarterly earnings loss of 46 cents per share, which beat the estimate for a loss of 68 cents per share.
"Looking ahead to 2022, we have exciting plans to make our products even more engaging and valuable for our learners. And we also have plans to continue broadening our offerings beyond languages," said Luis von Ahn, co-founder and CEO of Duolingo.
Duolingo expects first-quarter revenue to be between $75.5 million and $78.5 million versus the $73.63 million estimate. The company expects full-year 2022 revenue to be between $332 million and $342 million versus the $323 million estimate.
- Piper Sandler analyst Arvind Ramnani maintained Duolingo with an Overweight rating and lowered the price target from $137 to $111.
Duolingo operates a mobile learning platform that helps its users learn new languages.
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DUOL Price Action: Duolingo has traded between $70.66 and $204.99 since it went public last year.
The stock was up 14.8% at $81.30 at time of publication.
Photo: courtesy of Duolingo.
