Dividend Stocks

Why Is QuantaSing (QSG) Stock Up 25% Today?

QuantaSing (NASDAQ:QSG) stock is on the rise Thursday following the release of the company’s earnings report for fiscal Q3 2023.

The good news for OSG stock starts with the company’s adjusted earnings per share of 13 cents. That’s an improvement from the 10 cents that the education technology platform reported during the same period of the year prior.

To go along with that, QuantaSing reported a revenue of 807.24 million yuan. Yet again, that’s an improvement year-over-year (YOY) for the company. This time it represents a 16.8% gain from the 690.91 million yuan.

Dong Xie, Chief Financial Officer of QuantaSing, said the following in the earnings report:

“We maintained our growth momentum during the third quarter of FY 2023, driven by robust demand for our individual online learning services and enterprise services. In addition to our solid top line growth, we continued to add new registered users and increase our paying learners, and boosted our repeat purchase rate.”

QSG Stock Outlook

The latest earnings report also comes with a new outlook for fiscal 2023. In that outlook, QuantaSing predicts that its revenue for the year will range from 760 million yuan to 790 million yuan. That would have its revenue rising between 20.8% to 25.6% YOY.

OSG stock is seeing more than 205,000 shares change hands as of Thursday morning. That’s well above its daily average trading volume of around 31,000 shares. It also has the company’s stock up 24.7% as of this writing.

There’s more stock market news traders will want to know about below!

We’ve got all of the latest news that traders need to know about on Thursday! Our coverage includes everything happening with shares of T2 Biosystems (NASDAQ:TTOO) stock, the biggest pre-market stock movers this morning, and more. All of that news is ready at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.