Reported 1 day ago
Duolingo's shares fell over 20% after the company forecasted fourth-quarter bookings below Wall Street expectations, predicting between $329.5 million and $335.5 million, compared to the estimated $343.6 million. While they raised their annual revenue outlook following a successful third quarter, CEO Luis von Ahn emphasized a shift towards improving teaching quality over immediate monetization efforts, despite strong user growth and a 34% increase in paid subscribers.
Source: YAHOO