Duolingo CEO on Earnings, Plus ESPN’s Bombshell Deal 8/9/23
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 9 August 2023
⏱️ 8 minutes
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| 0:00.0 | For today's Tech Check, we're talking to one of the biggest earnings movers of the day. |
| 0:05.0 | Take a look at Duolingo, reporting a beat across the board raising guidance for the fiscal year, |
| 0:09.4 | clearly speaking the streets language. |
| 0:12.0 | Sending shares surging today |
| 0:13.2 | joining us this morning in a c. ABC exclusive dual lingo CEO Luis Van Onle. |
| 0:17.4 | Luis great to have you talk to me about what do you think is driving the price action |
| 0:22.0 | today? Well thank you for having me. |
| 0:25.0 | I mean, in general, just our performance keeps being very strong. |
| 0:31.0 | Our users have grown very strongly over the last several years and it's because we keep on |
| 0:37.5 | making the product significantly better. We're a product driven company and |
| 0:40.9 | just over time our app keeps getting more fun and more effective at |
| 0:45.1 | teaching languages and so since people love it they also subscribe and then we make a lot |
| 0:51.4 | of revenue from that and so that that's helped us out quite a bit. |
| 0:54.0 | Can you can you help viewers understand where we are right now in sort of the |
| 0:58.6 | the learning language model trajectory are are we are are things being learned and |
| 1:06.7 | absorbed in in the model at a fact even faster rate than in the past? |
| 1:12.3 | Yeah I mean we're teaching better and better. |
| 1:15.0 | Every, literally every week Duolingo gets a little better at teaching. |
| 1:19.3 | And it's because we have a lot of users. |
| 1:20.9 | I mean we have millions and millions of users who use the app every day and we use |
| 1:24.7 | their data to teach better. We're in dual language not quite as good as a one-on-one |
| 1:29.9 | human tutor just yet but it is as good as a classroom. And so, you know, people are very |
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