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Duolingo lifts revenue guidance after swinging to surprise profit in Q2

Investing.com -- Duolingo raised its annual revenue guidance after reporting a surprise second-quarter profit underpinned by a jump in users flocking to its mobile language learning platform. 

Duolingo Inc (NASDAQ:DUOL) rose 7% in afterhours following the report. 

The mobile learning platform reported EPS of $0.08, compared with a loss of $0.38 in the prior-year period. Revenue of $126.8 million beat analyst expectations for a loss of $0.19 on revenue of $123.7M.

Paid subscribers rose 59% to 5.2M as daily active users jumped 62% to 21.4M and monthly active users surged 50% to 74.1M.

Total bookings was $137.5M for Q2, an increase of 41% from the prior year quarter

The company guided Q3 revenues in a range of $129.5M to $132.5M, compared with Wall Street estimates for $129.9M. 

For the full-year, revenue was expected in a range of $510MM to $516M, up from prior guidace of $500M to $509M.  

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.