Chegg Inc
- Chegg declined 7.5% to $8.60 after the online textbook platform operator estimated lower-than-expected revenue in the first quarter.
Revenue in the fourth quarter declined 8% to $188 million from $205.2 million, net income rebounded to $9.6 million from $1.9 million, and diluted earnings per share rose to 9 cents from 1 cent a year ago.
The company estimated revenue in the first quarter to range between $173 million and $175 million, gross margin between 73% and 74%, and adjusted operating earnings between $43 million and $45 million.
Feb 6, 2024 - Chegg Inc increased 6.3% to $10.66 after the online education and textbook provider reported better-than-expected revenue in the second quarter.
Total revenue in the second quarter declined 6% to $182.8 million from $194.7 million and operating income swung to a loss of $18.7 million from $7.3 million but net income rose to $24.6 million from $7.4 million and diluted earnings per share fell to a loss of 11 cents from a profit of 6 cents a year ago.
Several items impacted GAAP net income in the quarter, including a gain of $53.8 million from the repurchase of some of outstanding convertible debt, which was partially offset by a restructuring charge of $5.7 million announced during the quarter, and a loss contingency of $7.0 million accrued related to a previous gain taken on an equity investment.
Total subscribers declined 9% to 4.8 million and subscription services declined 5% to $165.9 million, or 91% of total net revenue compared to 90% a year ago.
The company forecasted third quarter revenue between $151 million and $153 million and gross margin between 68% and 69% and adjusted operating earnings between $34 million and $36 million.
Aug 8, 2023 - Chegg Inc plunged 46% to $9.47 after the company reported a decline in revenue and the company said AI tools are negatively impacting new subscribers growth.
Revenue in the first quarter declined 7% to $187.6 million and net income plunged to $2.2 million from $5.7 million and diluted earnings per share fell to 2 cents from 4 cents a year ago.
"In the first part of the year, we saw no noticeable impact from ChatGPT on our new account growth and we were meeting expectations on new sign-ups. However, since March we saw a significant spike in student interest in ChatGPT.
We now believe it’s having an impact on our new customer growth rate," said Dan Rosensweig, chief executive officer and president.
May 2, 2023 - Chegg, Inc said the fourth quarter revenue declined 1% to $205.2 million and net income dropped to $1.9 million from $24.3 million and diluted EPS fell to 1 cent from 15 cents a year ago.
Feb 6, 2023
| Year | Mar | Jun | Sep | Dec | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 0.02 | -0.11 | -0.16 | - | - | |
| 2022 | 0.04 | 0.06 | 1.23 | 0.01 | 1.34 | |
| 2021 | -0.49 | 0.2 | 0.05 | 0.23 | -0.01 | |
| 2020 | -0.05 | 0.08 | -0.29 | 0.21 | -0.05 | |
| 2019 | -0.04 | -0.02 | -0.1 | 0.08 | -0.08 | |
| 2018 | -0.02 | -0.03 | -0.12 | 0.04 | -0.13 | |
| 2017 | 0.03 | 0.04 | 0.08 | 0.06 | 0.21 | |
| 2016 | 0.16 | 0.08 | 0.13 | - | 0.37 | |
| 2015 | 0.25 | 0.08 | 0.23 | 0.07 | 0.63 | |
| 2014 | -0.31 | -0.10 | -0.39 | 0.02 | -0.78 | |
| 2013 | -1.48 | -0.27 | -2.27 | -2.36 | -7.58 | |
| 2012 | - | - | - | 0.00 | -4.39 | |
| 2011 | - | - | - | 0.00 | -4.45 | |
| 2010 | - | - | - | 0.00 | -3.74 |