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Chegg: 1Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a loss of $4.3 million in its first quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 4 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The provider of online textbook rental services posted revenue of $97.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $94.7 million.

For the current quarter ending in July, Chegg said it expects revenue in the range of $91 million to $93 million.

The company expects full-year revenue in the range of $393 million to $398 million.

Chegg shares have risen 40% since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.66, a rise of 75% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHGG at https://www.zacks.com/ap/CHGG