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

Chegg

30/04/2024 02:59

* Chegg Inc  CHGG.N  reported quarterly adjusted earnings of
26
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of 27
cents.  The mean expectation of fourteen analysts for the
quarter was for earnings of 25 cents per share. Wall Street
expected results to range from 20 cents to 28 cents per share.
    * Revenue fell 7.1% to $174.35 million from a year ago;
analysts
expected $174.10 million. 
    * Chegg Inc's reported EPS for the quarter was a loss of 1
cent​.
    * The company reported a quarterly loss of $1.42 million.
    * Chegg Inc shares had fallen by 6.2% this quarter and
lost 37.5%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 17.8%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 10
"hold" and 4 "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
$8.50 
This summary was machine generated from LSEG data April 30 at
01:59 a.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
 Mar. 31 2024      0.25           0.26           Beat
 Dec. 31 2023      0.36           0.36           Met
 Sep. 30 2023      0.17           0.18           Beat
 Jun. 30 2023      0.29           0.28           Missed