Chegg: 4Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported fourth-quarter net income of $8.2 million, after reporting a loss in the same period a year earlier.
The Santa Clara, California-based company said it had net income of 6 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 35 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The provider of online textbook rental services posted revenue of $125.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $123.2 million.
For the year, the company reported that its loss narrowed to $9.6 million, or 8 cents per share. Revenue was reported as $410.9 million.
For the current quarter ending in April, Chegg said it expects revenue in the range of $122 million to $125 million.
The company expects full-year revenue in the range of $522 million to $527 million.
Chegg shares have increased 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $44.61, an increase of 30% in the last 12 months.