Coursera, Inc. (COUR) shares tumbled 6.25% in pre-market trading on Friday, extending the after-hours decline from the previous day. The sharp downturn comes in the wake of the company's third-quarter earnings report, which revealed mixed results and underwhelming fourth-quarter guidance.

Despite reporting better-than-expected third-quarter results, with revenue of $194.2 million surpassing the consensus estimate of $190.3 million and adjusted earnings per share of $0.10 beating the expected $0.08, investors appeared to focus on the disappointing outlook for the fourth quarter. Coursera's Consumer segment showed strong performance, growing revenue by 13% year-over-year, contributing to the overall positive Q3 results.

However, the company's fourth-quarter revenue guidance of $189 million to $193 million fell short of market expectations, suggesting a potential slowdown in growth compared to the 10% year-over-year increase seen in Q3. This outlook has raised concerns about Coursera's near-term growth trajectory, overshadowing the raised full-year 2025 revenue guidance to $750 million to $754 million. The market's negative reaction reflects investor disappointment in the company's ability to maintain its growth momentum in the crucial fourth quarter.