Stride jumps 11% on Q1 beat & strong outlook

Stride (LRN) shares surged more than 11% after-hours following the company’s reported Q1 results, with EPS of $0.11 coming in better than the consensus estimate of ($0.42).

Revenue increased 12.9% year-over-year to $480.2 million, driven by General Education and Career Learning enrollment strength. This figure came in better than the consensus estimate of $457.7M.

The company expects Q2/24 revenues to be in the range of $490.0M to $510.0M, better than the consensus estimate of $484.4M.

For the full year, the company sees revenues at $1.96-$2.03 billion, compared to the consensus estimate of $1.94B.