Duolingo stock soars as online learning surge and AI boost forecast

Language learning platform Duolingo’s shares surged more than 20% in premarket trading on Thursday as the company forecast better-than-expected 2024 revenue on the back of a shift to online learning and AI integration on the platform.

The company is set to add $1.68 billion to its market value if gains hold.

Duolingo forecast 2024 revenue in a range of $717.5 million to $729.5 million, blowing past analysts’ average estimate of $699.3 million, according to LSEG data.