Shares of Stride Inc. (LRN), a leading provider of online education services, skyrocketed over 32% on Tuesday, October 23, 2024, after the company reported stellar financial results for the first quarter of fiscal year 2025 and raised its full-year guidance.
For the quarter ended September 30, 2024, Stride's revenue surged 14.8% year-over-year to $551.08 million, exceeding analysts' expectations of $504.28 million. The company's adjusted earnings of $0.94 per share also significantly outpaced the consensus estimate of $0.22 per share. This impressive performance was driven by robust demand across all of Stride's education offerings, with total enrollments increasing 18.5% to a record high of 222,600.
Buoyed by the strong start to fiscal 2025, Stride raised its full-year revenue guidance to a range of $2.225-$2.3 billion, surpassing its previous outlook of $2.2 billion and Wall Street's consensus estimate of $2.17 billion. The company also increased its full-year adjusted operating income guidance to $395-$425 million, significantly higher than analysts' projections.
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