Coursera Authorized $500 Mln Share Repurchase

(RTTNews) - Coursera, Inc. (COUR), the online education platform, Monday announced that it has been authorized to repurchase $500 million of its common stock.

"Coursera believes that its enhanced scale following its recent combination with Udemy, Inc., strong financial position, and expected future cash generation, particularly following the achievement of anticipated operating synergies, provide the Company with ample capacity to opportunistically return capital to shareholders, while also investing for durable long-term growth.", the online learning platform said in a statement.

The share repurchase will be funded by existing cash and cash from operations.

In pre-market activity, COUR shares were trading at $5.50, up 4.27% on the New York Stock Exchange.