Chegg: Q2 Earnings Insights

Shares of Chegg CHGG rose 3.15% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 60.87% year over year to $0.37, which beat the estimate of $0.32.

Revenue of $153,009,000 up by 63.01% from the same period last year, which beat the estimate of $136,610,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

The upcoming fiscal year's revenue expected to be between $605,000,000 and $615,000,000.

Conference Call Details

Date: Aug 03, 2020

Time: 04:30 PM

ET Webcast URL: https://investor.chegg.com/Events-and-Presentations/default.aspx

Recent Stock Performance

Company's 52-week high was at $81.03

52-week low: $25.89

Price action over last quarter: Up 51.66%

Company Profile

Chegg Inc is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring. The company focuses on high school and college level students who are able to rent textbooks for various courses and return them to the company after completion. Rentals are typically transacted at a low cost relative to the purchase of textbooks at full price. The company offers over 25,000 textbook titles for students to rent and historically has had over 1 million students use its services. Chegg also provides course and professor reviews, standardized test preparation, career preparation, and study materials on its website. Textbook rentals provide the majority of the company's revenue followed by online educational services.