Why Chegg (CHGG) Stock Is Up in After-Hours Trading Today

NEW YORK (TheStreet) -- Chegg (CHGG) was gaining 2.7% to $6.05 after-hours Monday after beating analysts' estimates for earnings and revenue in the second quarter.

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.

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