Aug. 7 (UPI) -- The free language-learning app Duolingo grew by nearly a third in value during Thursday's stock trading after its second-quarter earnings exceeded expectations.

Duolingo shares are traded on the NASDAQ stock exchange under the DUOL symbol and reached a high of $465.35 during morning trading but declined to a low of $386.89 in the afternoon.

The stock was selling for $397.35 and fluctuating with about an hour left in Thursday's trading, which was a gain of more than $53 and about 15.5%.

"We exceeded our own high expectations for bookings and revenue this quarter and did it while expanding profitability," Duolingo Chief Executive Officer Luis von Ahn said in a news release .

Duolingo reported adjusted earnings per share of 91 cents as revenues rose by 41% to $252.3 mil

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