Shares of Graham Holdings (NYSE: GHC) surged 6.11% on Tuesday after the education and media company reported better-than-expected earnings for the third quarter of 2024.
The Arlington, Virginia-based company reported adjusted earnings of $17.25 per diluted share for the quarter ended September 30, significantly higher than the $15.31 per share expected by analysts. This strong earnings performance represents a significant increase from the $10.45 per share reported in the same period last year.
While Graham Holdings' revenue of $1.21 billion fell slightly short of the analyst consensus estimate of $1.23 billion, it still marked an 8.59% increase compared to the $1.11 billion reported in the third quarter of 2023. The company's robust earnings growth appears to have outweighed the modest revenue miss, driving the stock's positive momentum.
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