Benzinga | May 3, 2021 04:28PM EDT

Chegg: Q1 Earnings Insights

Shares of Chegg (NYSE:CHGG) jumped 2.6% higher in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 27.27% year over year to $0.28, which missed the estimate of $0.30.

Revenue of $198,378,000 up by 50.75% from the same period last year, which beat the estimate of $184,590,000.

Outlook

Q2 revenue expected to be between $188,000,000 and $190,000,000.

Details Of The Call

Date: May 03, 2021

Time: 04:30 PM

ET Webcast URL: http://public.viavid.com/player/index.php?id=144263

Recent Stock Performance

Company's 52-week high was at $115.21

Company's 52-week low was at $41.24

Price action over last quarter: down 21.46%

Company Overview

Chegg Inc is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring. The company focuses on high school and college level students who are able to rent textbooks for various courses and return them to the company after completion. Rentals are typically transacted at a low cost relative to the purchase of textbooks at full price. The company offers over 25,000 textbook titles for students to rent and historically has had over 1 million students use its services. Chegg also provides course and professor reviews, standardized test preparation, career preparation, and study materials on its website. Textbook rentals provide the majority of the company's revenue followed by online educational services.