Stride Inc (NYSE:LRN) shares are rising in extended trading on Tuesday after the company reported better-than-expected financial results for the third quarter and raised its full-year outlook. Here’s a look at the key metrics from the quarter.
Third-quarter enrollments averaged 240,200, up 21% on a year-over-year basis. Of the total average enrollments, 98,700 were Career Learning enrollments, up 33.7% year-over-year. Revenue per enrollment came in at $2,415 in the quarter, down slightly compared to $2,420 in the prior year’s quarter.
Stride said it ended the period with $754.6 million in cash, cash equivalents and marketable securities.
Outlook: Stride raised full-year revenue guidance from a range of $2.32 billion to $2.35 billion to a new range of $2.37 billion to $2.38 billion versus estimates of $2.34 billion, according to Benzinga Pro.
Stride offers innovative education solutions, serving learners in primary, secondary and postsecondary settings.
LRN Price Action: Stride shares were up 3.71% after the bell, trading at $147.88 at the time of publication on Tuesday. According to Benzinga Pro, Stride shares are up approximately 37% year-to-date, and a whopping 113% over a one-year period.
Read Next:
Photo: T. Schneider/Shutterstock.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.