Why Chegg Stock Soared Today
Shares of Chegg (NYSE: CHGG) jumped 14.4% on Tuesday after the education technology company announced impressive third-quarter results and raised its full-year outlook.
Quarterly net revenue climbed 27% year over year to $94.2 million, including a 28% increase in services revenue to $69.3 million. On the bottom line, that translated to non-GAAP (adjusted) net income of $23.8 million, or $0.18 per share, up from $0.07 per share a year ago. Analysts on average were expecting adjusted earnings of just $0.08 per share on revenue of $89.2 million.
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Source Fool.com
