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US: Increased losses for Coursera

Coursera

Massive open online course provider Coursera has reported a second-quarter net loss of $49.3 million, compared to a net loss of $46.4 million reported for Q2 2021.

Revenue for the quarter was $124.8 million, up 22% from $102.1 million reported for Q2 2021.

The Mountain View California-based company also reported results for the first six month of 2022. Its net loss for the period was $87.6 million, compared to a net loss of $65 million reported for the first half of 2021. Revenue for the period was $245.2 million, up from $190.5 million reported for the first half of last year.

Coursera’s chief executive Jeff Maggioncalda said: “The combination of online learning and remote work has the power to create greater access to high-quality education and unlock broader economic opportunity. We continue to see strong demand from businesses, governments, and academic institutions looking to deliver the in-demand skills and industry-recognised credentials required to enter digital jobs.”

Ken Hahn, Coursera’s chief financial officer, added: “Our second-quarter results reflect strong demand for our entry-level professional certificates and sustained revenue growth across our enterprise segment. With our three-sided platform, diversified offerings, and global learner base, we have multiple levers of growth to navigate the long-term trends shaping higher education.”

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