Coursera – one of the leading online learning platforms in the world has gained millions of users during Covid 19 period. On Tuesday, the company said online learning growth is becoming structural beyond the COVID-19 pandemic.
With millions of users on board, Coursera has earned millions. The company reported a revenue of $102.1 million for Q2 alongside a non-GAAP gross profit of $61.8 million and a non-GAAP EPS of -$0.05. The figures beat Wall Street estimates of a -$0.11 EPS and the revenue estimate of $91.53 million.
“In the second quarter, revenue grew 38% year-over-year with strong momentum across our three-sided learning platform,” said Ken Hahn, Coursera’s CFO.
“Following our pandemic-related surge in 2020, we believe we are seeing sustained structural demand for online learning as businesses, governments, and individual learners seek the skills required to compete in today’s economy.”
Ken Hahn, Coursera’s CFO
Coursera in Q2 was $62 million as the company added 5 million new registered learners during the quarter for a total of 87 million. Enterprise revenue for the second quarter was $28.2 million, up 69% from a year ago.
The company has increased the total number of paid enterprise customers to 584, a 109% bump year over year. Revenue from degrees reached $11.9 million.
For Q3, the company expects to bring in revenue in the range of $105 million and $109 million. For the full fiscal 2021 year, Coursera said it expects somewhere between $402 million and $410 million in revenue. Meanwhile, other companies like Samsung also had great 53% profit sales in the second quarter.
On other hand, Apple iPhone sales also increased by 50% despite the global chip shortage. The only US giant that’s expecting slower growth onwards is Amazon. The giant expects slower sales growth as the covid situation improves.
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Coursera is not only earning millions but also providing quality education to its users. With millions of users on board, they have achieved a lot. The company is also in collaboration with Google and other tech giants and with the help of these courses, a number of students are working in big tech organizations like Google, IBM. Facebook etc.
“Our second-quarter result reflects the growing adoption and impact of our platform around the world. Institutions are using Coursera to launch large-scale reskilling efforts, and learners are coming to the platform to upskill for high-demand digital roles,”
“Working with global brands like Google, IBM, and Facebook, we have assembled a broad catalog of job-relevant content and credentials that are helping learners with no college degree or industry experience learn the skills needed to start new digital careers.”
Jeff Maggioncalda, Coursera CEO
Source: ZDNet
Coursera not only provides paid courses but also helps their users to afford with the help of their financial aid program. Those who are willing to invest their time in quality education but unable to afford/pay course fees can simply apply for their financial aid program.
Write an application and answer their questions about why are you interested in this? How will this course help? And they reach you out in 15 days via email. In most cases, we have seen Coursera financial aid applications approved easily.
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