Online course provider Coursera (NYSE: COUR) reported its second-quarter financial results after the markets closed on Tuesday, causing its share price to rally over 11%.
Total revenue was $102.1m, up 38% compared to $73.7m earned from Q2 in 2020. Net loss was $46.4m or -45.4% of revenue, compared to -$13.9m a year ago.
“Our second-quarter result reflects the growing adoption and impact of our platform around the world,” said CFO Ken Hah.
“Following our pandemic-related surge in 2020, we believe we are seeing sustained structural demand for online learning as businesses, governments and individual learners seek the skills required to compete in today’s economy,” he added.
Coursera also revealed its financial outlook for the full fiscal year and third quarter. Third-quarter revenue remains in the range of $105m to $109m, and adjusted EBITDA is between -$7.5m to -$10.5m.
The full-year revenue outlook is between $402m to $410m, and EBITDA is between -$38m and -$44m.
Coursera’s share price has gained 11.58% premarket, climbing to $39.81.
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