Shares of foreign language learning software company, Rosetta Stone Inc. climbed in late afternoon trading Thursday after the announcement of stellar fourth-quarter profits. Profits for the fourth quarter surged by more than double with rising demand.
Both profit and revenue for the company exceeded Wall St. estimates. Revenue rose 18 percent to $78.3 million on $74.3 expectations. Consumer revenue increased by 16 percent to $65 million while institutional revenue grew by 29 percent to $13.2 million.
Rosetta Stone' stock has only been available since April. The company voiced plans to debut the next generation of its software in the fiscal third quarter.
In after-hours trading, the stock tacked on $2.17, or about 13 percent, to $19.51 after falling by 20 cents during regular hours.
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