By Connor Hart
Shares of Skillsoft jumped after the company raised its full-year outlook as its loss narrowed and it posted higher-than-expected revenue in its third quarter.
The stock rose 8.6%, to $15.99, in after-hours trading Tuesday. Shares, which ended the regular session 1.4% higher at $14.72, are down 16% since the beginning of the year, despite having gained 17% in the last three months.
The education-software company after the bell increased its full-year revenue outlook to between $520 million and $530 million from between $510 million and $525 million. It backed its adjusted earnings before interest, taxes, depreciation and amortization outlook of between $105 million and $110 million. Analysts surveyed by FactSet are expecting revenue of $517.1 million and adjusted Ebitda of $107.8 million.
In its recent quarter, Skillsoft reported a loss of $23.6 million, or $2.86 a share, compared with a loss of $27.7 million, or $3.45 a share, a year earlier.
On an adjusted basis, the company posted a loss of $1.82 a share for its three months ended Oct. 31. Analysts polled by FactSet were expecting an adjusted loss of $3 a share.
Revenue fell to $137.2 million from $139 million, but came in ahead of the $130 million that analysts were looking for, according to FactSet.
Chief Executive Ron Hovsepian said the recent quarter's results represent the first step in the company's transformation strategy.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 10, 2024 17:45 ET (22:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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