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.
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