Online learning platform Udemy (NASDAQ: UDMY) will be reporting results this Thursday after the bell. Here’s what investors should know.

Udemy beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $195.7 million, flat year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations significantly. It reported 17,111 active buyers, up 1.6% year on year.

Is Udemy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Udemy’s revenue to decline 3.4% year on year to $193.2 million, a reversal from the 5.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Udemy has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.4% on average.

Looking at Udemy’s peers in the consumer internet segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Netflix delivered year-on-year revenue growth of 17.6%, beating analysts’ expectations by 0.7%, and Match Group reported revenues up 2.1%, topping estimates by 0.7%. Netflix traded down 2.2% following the results.

Read our full analysis of Netflix’s results here and Match Group’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 13.4% on average over the last month. Udemy is down 15.7% during the same time and is heading into earnings with an average analyst price target of $8 (compared to the current share price of $4.63).

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