Benzinga | Aug 9, 2021 04:53PM EDT

Recap: Chegg Q2 Earnings

Shares of Chegg (NYSE:CHGG) rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 16.22% over the past year to $0.43, which beat the estimate of $0.37.

Revenue of $198,478,000 up by 29.72% from the same period last year, which beat the estimate of $189,940,000.

Outlook

Chegg Raises FY21 Sales Guidance From $790M-$800M to $805M-$815M vs $797M Est., Adj. EBITDA $295M-$300M

Chegg Sees Q3 Adj. EBITDA $43M-$45M, Sales $170M-$175M vs $172.9M Estimate

Conference Call Details

Date: Aug 09, 2021

Time: 04:30 PM

ET Webcast URL: https://78449.themediaframe.com/dataconf/productusers/vvdb/mediaframe/45852/indexl.html

Recent Stock Performance

52-week high: $115.21

Company's 52-week low was at $62.84

Price action over last quarter: down 0.70%

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.