SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a loss of $2 million in its second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 2 cents. Earnings, adjusted for stock option expense and amortization costs, came to 23 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The provider of online textbook rental services posted revenue of $93.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $92.3 million.
For the current quarter ending in October, Chegg said it expects revenue in the range of $88 million to $90 million.
The company expects full-year revenue in the range of $398 million to $402 million.
Chegg shares have climbed 48% since the beginning of the year. In the final minutes of trading on Monday, shares hit $42.03, an increase of 54% in the last 12 months.