The Duolingo logo can be seen on your smartphone.
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Duolingo On the language learning platform, stocks soared by more than 30% due to strong user growth AI.
Mobile learning platform Hiking Its full-year guide ranges from $1.01 billion to $1.02 billion, up from $987 million to $996 million. Duolingo also raised its booking guide to $1.15 billion to $1.16 billion.
“We had high expectations for bookings and revenue this quarter and did that while expanding profitability,” said Luis von Ahn, co-founder and CEO, in a press release.
During the same period last year, daily active users jumped 40% from about 34 million to nearly 48 million.
To expand its course offerings and facilitate users, Duolingo has implemented AI tools that include video call conversation practice features for some paid subscribers. The company also expanded language learning with new courses such as chess.
Duolingo also announced the acquisition of London-based music gaming startup NextBeat to expand its app products when it acquires in undisclosed quantities.
The company’s CEO said Duolingo is still in the early stages of its growth trajectory.
Revenue rose about 41% year-on-year to $252 million, surpassing Wall Street’s $241 million. Net income a year ago rose 84% to about $45 million, or 91 cents per share.
In the third quarter, the Duolingo project revenue ranged between $257 million and $261 million, surpassing Wall Street analysts’ $253 million forecast.
watch: Duolingo CEO Luis von Ahn says AI enhances dialogue language learning
