Chegg falls after dour Q1 revenue outlook
05/02/2024 21:36
** Shares of education technology company Chegg CHGG.N
fall 8.6% to $8.50 in extended trading
** CHGG expects Q1 revenue in the range of $173 mln to $175
mln vs analysts' average estimate of $180.3 mln - LSEG
** Co expects Q1 subscription services revenue between $155
mln and $157 mln vs estimate of $156.9 mln
** Appoints David Longo as CFO, effective Feb. 21, taking
reins from Andy Brown
** Posts Q4 rev. of $188 mln vs. analysts' average est. of
$187.4 mln
** "While we are seeing encouraging signs in the business,
it is too early to predict when we will return to revenue and
margin growth," CFO Andy Brown says
** CHGG stock had fallen ~55% in 2023
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))