IBL News | New York

Shares of Coursera (NYSE: COUR) continue falling on Thursday, despite the company’s third-quarter earnings report that beat Wall Street’s expectations on both revenue and earnings per share. In the last two days, the stock finished down over 11%, at $32.14.

Since it went public this year in March, at $33, the stock hasn’t offered any gain. Between the IPO and today, shares had gotten as high as $65 per share.

Analysts explained that Coursera was catching a cold from an industry peer — Chegg (NYSE: CHGG) — whose stock was cut in half after warning that higher wages and employment opportunities were luring students into the workforce instead of community colleges or regular college.

Coursera posted showed a revenue increase of 33% to $82.7 million in the third quarter. The adjusted net loss per share was $0.06.

Net loss was $32.5 million or 29.5% of revenue, compared to $11.9 million or 14.4% of revenue a year ago.

Jeff Maggioncalda, CEO at Coursera, said, “Our third-quarter performance reflects the continued urgency with which companies, campuses, and governments around the world are investing in digital skills.”

The Mountain View, California-based online learning platform expects full-year revenue in the range of $409 million to $413 million.