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Nerdy Inc Down 21.80% To $2.40 After Earnings Beat

Wednesday, February 28, 2024 02:49 PM | InvestorsObserver Analysts

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Nerdy Inc Down 21.80% To $2.40 After Earnings Beat

Nerdy Inc (NRDY) reported better than expected earnings this afternoon for Q4 2023.

Nerdy Inc's earnings came in at an EPS of $0.02 per share, 117.00% higher than estimates for an EPS loss of $0.12 per share. The firm's earnings are up 125% since reporting losses of $0.08 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $54.8 million. The Technology company managed to surpass those expectations for its fourth quarter with revenue of $55.1 million, a positive revenue surprise of $254 thousand (0%). The firm managed 32% growth year-over-year due to Nerdy Inc reporting quarterly revenue of $41.8 million in its year-ago quarter. Nerdy Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 21.80% to $2.40 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Nerdy Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 50. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Nerdy Inc is a curated direct-to-consumer platform for live online learning.

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