Revenue Update on Chegg Inc(NYSE:CHGG)

Chegg Inc(NYSE:CHGG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $53.04M. Analysts estimated a revenue of $51.15M. Earnings per share were $0.05. Analysts had estimated an EPS of $0.03.

Chegg Inc (CHGG) made into the market gainers list on Mondays trading session with the shares advancing 1.97% or 0.13 points. Due to strong positive momentum, the stock ended at $6.73, which is also near the day’s high of $6.75. The stock began the session at $6.59 and the volume stood at 4,25,558 shares. The 52-week high of the shares is $8.81 and the 52 week low is $3.15. The company has a current market capitalization of $613 M and it has 9,10,28,255 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Feb 25, 2016, Daniel Rosensweig (CEO) purchased 48,842 shares at $4.09 per share price.Also, On Feb 25, 2016, Andrew J Brown (CFO) purchased 30,000 shares at $4.16 per share price.On Feb 25, 2015, Nathan J. Schultz (CHIEF LEARNING OFFICER) sold 31,919 shares at $8.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Chegg Inc. is a student-first connected learning platform. The Company offer textbooks and from digital offerings. Digital offerings primarily include Student Hub the Company’s connected learning platform its Web-based multiplatform eTextbook Reader eTextbooks and supplemental materials from approximately 120 publishers online tutoring its Chegg Study service College Admissions Scholarship Services and internship services. The Company sources print textbooks eTextbooks and supplemental materials publishers in the United States including Pearson Cengage Learning McGraw Hill Wiley and MacMillan. In addition the Company also offers enrollment marketing services to colleges. The Company also works with brands such as Adobe Dell Microsoft PayPal Proctor & Gamble Red Bull and Shutterfly to provide students with discounts promotions and other products that based on student feedback.

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