Stride Stock Surges To All-Time High Following Better-Than-Expected Q3 Results

Stride Inc (NYSE:LRN) shares are rising in extended trading on Tuesday after the company reported better-than-expected financial results for the third quarter and raised its full-year outlook. Here’s a look at the key metrics from the quarter.

• Q3 Revenue: $613.38 million, versus estimates of $591.07 million

• Q3 EPS: $2.02, versus estimates of $2

Third-quarter enrollments averaged 240,200, up 21% on a year-over-year basis. Of the total average enrollments, 98,700 were Career Learning enrollments, up 33.7% year-over-year. Revenue per enrollment came in at $2,415 in the quarter, down slightly compared to $2,420 in the prior year’s quarter.

Stride said it ended the period with $754.6 million in cash, cash equivalents and marketable securities.

Outlook: Stride raised full-year revenue guidance from a range of $2.32 billion to $2.35 billion to a new range of $2.37 billion to $2.38 billion versus estimates of $2.34 billion, according to Benzinga Pro.

Stride offers innovative education solutions, serving learners in primary, secondary and postsecondary settings.

LRN Price Action: Stride shares were up 3.71% after the bell, trading at $147.88 at the time of publication on Tuesday. According to Benzinga Pro, Stride shares are up approximately 37% year-to-date, and a whopping 113% over a one-year period.

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Photo: T. Schneider/Shutterstock.