Duolingo shares rose nearly 14% after the company raised its guidance, citing strong user growth fueled by artificial intelligence, according to CNBC. The language-learning platform raised its full-year revenue guidance to between $1.01 billion and $1.02 billion, up from its previous range of $987 million to $996 million. Duolingo raised its full-year bookings guidance to between $1.15 billion and $1.16 billion. CEO Luis von Ahn said Duolingo surpassed its expectations for bookings and revenue while also increasing profitability. Daily active users rose 40% year over year to nearly 48 million. The company acquired London-based music gaming startup NextBeat for an undisclosed amount to expand its app offerings. Shares are up more than 34% this year.
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