Udemy (NASDAQ:UDMY) Beats Q3 Sales Targets, Stock Jumps 13%

Udemy (NASDAQ:UDMY) Beats Q3 Sales Targets, Stock Jumps 13%

Online learning platform Udemy (NASDAQ:UDMY) reported Q3 FY2023 results exceeding Wall Street analysts’ expectations , with revenue up 16.6% year on year to $184.7 million. The company also expects next quarter’s revenue to be around $185.5 million, in line with analysts’ estimates. Turning to EPS, Udemy made a GAAP loss of $0.11 per share, improving from its loss of $0.33 per share in the same quarter last year.

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Udemy (UDMY) Q3 FY2023 Highlights:

  • Revenue: $184.7 million vs analyst estimates of $178.2 million (3.65% beat)

  • EPS: -$0.11 vs analyst estimates of -$0.18 (38% beat)

  • Revenue Guidance for Q4 2023 is $185.5 million at the midpoint, above analyst estimates of $183.9 million

  • Free Cash Flow of $8.54 million, down 36% from the previous quarter

  • Gross Margin (GAAP): 58.2%, up from 56.4% in the same quarter last year

  • Monthly Active Buyers: 1.41 million, up 90 thousand year on year

“Udemy delivered strong results that exceeded our expectations for top-line growth, and we delivered our second consecutive quarter of positive adjusted EBITDA and free cash flow,” said Greg

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IRS introduces business tax accounts as it targets big corporations for audits

The Internal Revenue Service is offering new business tax accounts that companies can use to view and track their taxes, while making improvements to its online tax professional accounts, as it ramps up hiring of accountants to pursue large corporations and wealthy individuals who are dodging their taxes.

“The business tax account will allow businesses to check their tax payment history, make payments, view notices, authorize powers of attorney and conduct other business with the IRS,” said IRS Commissioner Danny Werfel during a press conference. “The first phase of this account will allow unincorporated sole proprietors who have an active Employer Identification Number to set up a business tax account where they can view their business profile and manage authorized users. Future improvements will add more features to this account.” 

Over time the accounts will allow business taxpayers to check their tax payment history, make payments, view notices, authorize powers of attorney and conduct other business with the IRS. Future improvements will enable taxpayers to use their business tax accounts to view letters or notices, request tax transcripts, add third parties for power of attorney or tax information authorizations, schedule or cancel tax payments, and store bank account information.


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Facts stealer targets Fb business enterprise accounts to land sensitive details

Destructive hackers have been applying an sophisticated information stealer to concentrate on Fb business accounts by applying Google adverts and phony Fb profiles that advertise online games, grownup information, and cracked software to entice victims into downloading malicious data files.

In a March 7 blog site submit, researchers at Morphisec reported the attackers intention to steal delicate information and facts, such as log-in information, cookies, and Facebook ad and company account facts. The info stealer has been used in assaults in opposition to vital governing administration infrastructure workforce, producing corporations and other industries.

The attackers lure a victim to click on a URL from a bogus Facebook profile or ad to download a Zip file that purports to have an application, match or motion picture, but in actuality executes PHP scripts dependable for stealing and exfiltrating information and facts. The scripts are encoded applying diverse strategies, which makes their examination and detection more difficult. 

A graphic depicting the infection chain of infostealing malware SYS101. (Resource: Morphisec)

The investigate highlights how DLL side-loading assaults go on to provide as an productive pathway to trick Home windows units into loading malicious code. The challenge could be alleviated if Microsoft enforced search

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