Chegg (CHGG) Tops Q3 Earnings Estimates, Raises '19 View
Zacks Investment Research | Nov 04, 2019 11:43PM ET
Chegg, Inc. (NYSE:CHGG) reported better-than-expected results in third-quarter 2019. Both the top and bottom lines surpassed the respective Zacks Consensus Estimate and improved year over year, given strong contribution from Chegg Services. Resultantly, this educational technology company lifted its guidance for 2019. Notably, Chegg’s shares jumped almost 14% in the after-hour trading session, post its earnings release.
During the quarter, the company reported adjusted earnings of 18 cents per share, surpassing analysts’ expectation of 9 cents by 100%. Also, the reported figure increased more than 150% from the year-ago profit level of 7 cents. The upside can be attributed to solid top-line growth.
Chegg, Inc. Price, Consensus and EPS Surprise
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.