RTTNews | Jan 26, 2022 09:56AM EST

09:55 Wednesday, January 26, 2022 (RTTNews.com) - Shares of technology-based education company Stride, Inc. (LRN) are surging more than 32% in the morning trade on Wednesday after reporting upbeat second-quarter results. The company also raised its full-year revenue outlook.

The company reported net income of $42 million or $1 per share in the second quarter, significantly higher than $24.5 million or $0.60 per share in the same quarter a year ago. The consensus estimate of analysts surveyed by Thomson Reuters stood at $0.77 per share.

Revenue for the quarter increased to $409.5 million from $376.1 million, driven by continued strength in middle and high school Career Learning enrollments, growth in Adult Learning, and increases in revenue per enrollment. Analysts expected revenue of $395.23 million for the quarter.

Further, the company has raised its full-year revenue outlook to the range of $1.62 billion - $1.64 billion from $1.56 billion -$1.60 billion provided earlier. The consensus estimate stands at $1.59 billion.

For the third quarter, revenue is expected to be in the range of $405 million to $415 million. Analysts see revenue of $393.93 million for the quarter.

LRN is at $35.76 currently. It has traded in the range of $22.80- $38.40 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3257449/stride-inc-soars-on-upbeat-results-increased-outlook.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved