Udemy (UDMY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Udemy, Inc. (UDMY) reported revenue of $196.85 million, up 11.6% over the same period last year. EPS came in at $0.03, compared to -$0.06 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $194.83 million, representing a surprise of +1.04%. The company delivered an EPS surprise of +400.00%, with the consensus EPS estimate being -$0.01.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Udemy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Enterprise Segment - Annual Recurring Revenue: $479.40 million versus $481.86 million estimated by three analysts on average.

  • Enterprise Segment - Total Customers: 16,070 compared to the 16,102 average estimate based on three analysts.

  • Revenue- Consumer: $79.20 million compared to the $116.94 million average estimate based on four analysts. The reported number represents a change of -2.5% year over year.

  • Revenue- Enterprise: $117.60 million versus the four-analyst average estimate of $77.85 million. The reported number represents a year-over-year change of +23.5%.

  • Gross Profit- Enterprise: $84.60 million compared to the $80.60 million average estimate based on two analysts.

  • Gross Profit- Consumer: $43.20 million versus $42.91 million estimated by two analysts on average.

View all Key Company Metrics for Udemy here>>>

Shares of Udemy have returned -6% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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