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Chegg: 3Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a loss of $13.7 million in its third quarter.

The Santa Clara, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 7 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The provider of online textbook rental services posted revenue of $74.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $69.4 million.

For the current quarter ending in December, Chegg said it expects revenue in the range of $90 million to $92.5 million.

The company expects full-year revenue in the range of $315 million to $318 million.

Chegg shares have risen 41 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $22.99, an increase of 40 percent 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