Stride's Q2 Performance Tops Street Expectations, Raises FY24 Revenue Outlook

Stride, Inc. (NYSE: LRN) shares are trading higher in Tuesday's after-hours session on the heels of the company's second-quarter earnings report. Here's a look at the details.

What To Know: Stride reported quarterly earnings of $1.54 per share, which topped the Street's expectations of $1.31, a 29.41% increase over earnings of $1.19 per share from the same period last year.

The company reported quarterly sales of $504.87 million, which surpassed the analyst consensus estimate of $500.85 million. The figure represents a 10.13% increase over sales of $458.44 million from the same period last year.

Stride said enrollments for General Education was 120,700, marking a growth of 8.5% compared to 111,200 year-over-year.

Adjusted EBITDA for the quarter was $118.3 million, compared with $100.5 million in the same period in 2023.

Stride increased its full-year 2024 revenue forecast from $1.96 billion to $2.03 billion, to $1.99 billion to $2.04 billion, versus the estimate of $2 billion. 

Third-quarter revenue is estimated to be between $500 million and $520 million versus the $503.89 million estimate.

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LRN Price Action: Shares of LRN were up 3.08% at $64.00 in the after-hours session at the time of publication, according to Benzinga Pro. 

Image by Tumisu from Pixabay