The company broke even for the second quarter, beating the Capital IQ Consensus Estimate for earnings which expected a loss of -1 cent for the quarter. Revenue grew 15.5% from the year-ago quarter to $64.5 million, above the $64 million analysts expected for the quarter.
Chegg also announced a new partnership with Ingram Content. Under the new partnership Ingram will be responsible for textbook "sourcing, warehousing, fulfillment, shipping, and rental returns" while Chegg continues to operate the end-user experience, marketing, and pricing.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. CHGG data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts