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May 3, 2022, 5:09 p.m. EDT

NerdWallet's Stock Rises on 1Q Performance, 2Q Revenue Outlook

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By Maria Armental

NerdWallet Inc.'s stock rose 2% to $10.75 in after-hours trading on better-than-expected revenue growth for the latest period and forecast for the June quarter.

The company's first-quarter net loss narrowed to $10.5 million, or 16 cents a share, while revenue rose 43% to $129.1 million, beating the FactSet analyst consensus.

Credit-card revenue nearly doubled in the March quarter, while loan revenue rose 6% from the comparable period a year earlier and included growth in student loans despite continued federal student loan forbearance.

NerdWallet said the average monthly unique users fell 3% to 22 million.

This quarter, it projects $118 million to $121 million in revenue, ahead of the $114.5 million FactSet analyst consensus.

Write to Maria Armental at maria.armental@wsj.com

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