Coursera, Inc. (COUR) experienced a significant pre-market plunge of 10.40% following the release of its first-quarter financial results.
The online education platform reported adjusted earnings per share of $0.07, missing the analyst consensus estimate of $0.08. While quarterly revenue of $195.7 million slightly exceeded expectations, the company's net loss widened to $20.5 million, and adjusted EBITDA fell 28% year-over-year to $13.5 million.
Investor sentiment was further impacted by the company's second-quarter revenue outlook of $196 million to $200 million, which appears to be below the consensus estimate. Coursera reaffirmed its full-year revenue guidance but the disappointing bottom-line results and near-term outlook triggered the sell-off in pre-market trading.
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