Stride Inc's report of record first-quarter revenues sent shares in the technology-based education firm flying during Wednesday’s pre-market trading.
Revenue sat at US$480.2 million for the three months to September, the company revealed after hours on Tuesday, prompting per-share earnings of US$0.11.
Aside from marking a record for the company, which offers online educational programmes, analysts had expected negative earnings per share - in line with the first quarter of last year.
Career learning enrollment jumped by 14% year on year, while enrollment jumped by 5% among those in education, lifting the total number on its programmes to around 187,900, the company reported.
This was in spite of a hike in prices, with Stride reporting 7% and 6% increases in revenue per average educational and career enrollment respectively.
Stride forecasted full-year revenue in the range of US$1.96 billion to US$2.03 billion as a result, alongside adjusted operating income in between US$80 million and US$90 million.
Shares rose by 12% to US$49.80 ahead of Wednesday’s market opening.