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Dec 31, 2023
Stride Q2 2024 Earnings Report
Stride's Q2 2024 earnings were released, showcasing record revenue and profitability, which led to an increased full-year guidance.
Key Takeaways
Stride, Inc. reported a strong second quarter with record revenue of $504.9 million, up 10.1% year-over-year, and net income of $66.8 million, a 31.8% increase. The company raised its full-year revenue and adjusted operating income guidance.
Revenue increased to $504.9 million, a 10.1% increase compared to the previous year.
Net income rose to $66.8 million, a 31.8% increase year-over-year.
Diluted net income per share increased to $1.54, compared to $1.19 in the prior year.
The company raised its full-year revenue forecast to a range of $1.99 billion to $2.04 billion.
Revenue by Segment
Forward Guidance
Stride is raising its revenue and adjusted operating income forecast for the full year fiscal 2024.
Positive Outlook
- Full year revenue is projected to be in the range of $1.99 billion to $2.04 billion.
- Capital expenditures are expected to be in the range of $60 million to $65 million.
- The effective tax rate is estimated to be between 25% and 27%.
- Adjusted operating income is forecasted to be in the range of $265 million to $285 million.
- Third quarter revenue is projected to be in the range of $500 million to $520 million.
Challenges Ahead
- Capital expenditures for the third quarter are expected to be in the range of $14 million to $17 million.
- Adjusted operating income for the third quarter is forecasted to be in the range of $85 million to $95 million.
- Forward-looking statements are subject to risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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