Chegg: 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a loss of $11.5 million in its third quarter.
The Santa Clara, California-based company said it had a loss of 10 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 18 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The provider of online textbook rental services posted revenue of $94.2 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $89.4 million.
For the current quarter ending in December, Chegg said it expects revenue in the range of $122 million to $124 million.
The company expects full-year revenue in the range of $407 million to $409 million.
Chegg shares have climbed 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.29, a rise of roughly 10% in the last 12 months.