Duolingo reports Q1 revenue up 27% YoY to $292M, vs. $288.5M est., bookings up 14% to $308.5M, and expects slower growth in Q2; DUOL drops 12%+ after hours (Akash Sriram/Reuters)
Duolingo reported first-quarter revenue of $292 million, a 27% year-over-year increase and slightly above the $288.5 million estimate, with bookings rising 14% to $308.5 million. Despite the strong financial results, the company projected slower growth for the second quarter. Duolingo's stock dropped more than 12% in after-hours trading following the earnings release.
- ▪Duolingo's Q1 revenue was $292 million, up 27% year-over-year.
- ▪The revenue result surpassed the estimated $288.5 million.
- ▪Bookings increased 14% year-over-year to $308.5 million.
- ▪The company expects slower growth in Q2.
- ▪DUOL stock fell over 12% in after-hours trading.
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