Chegg Inc reports results for the quarter ended in June - Earnings Summary

Chegg

05/08/2024 22:56

* Chegg Inc  CHGG.N  reported quarterly adjusted earnings of
24
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 28
cents.  The mean expectation of fourteen analysts for the
quarter was for earnings of 22 cents per share. Wall Street
expected results to range from 18 cents to 27 cents per share.
    * Revenue fell 10.8% to $163.15 million from a year ago;
analysts
expected $159.98 million. 
    * Chegg Inc's reported EPS for the quarter was a loss of
$6.01​.
    * The company reported a quarterly loss of $616.88 million.
    * Chegg Inc shares had fallen by 5.1% this quarter and
lost 73.6%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2% in
the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 11
"hold" and 3 "sell" or "strong sell." 
    * The average consensus recommendation for the professional
information services peer group is also "hold"

Wall Street's median 12-month price target for Chegg Inc is
$6.00 
This summary was machine generated from LSEG data August 5 at
09:55 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.22           0.24           Beat
 Mar. 31 2024      0.25           0.26           Beat
 Dec. 31 2023      0.36           0.36           Met
 Sep. 30 2023      0.17           0.18           Beat