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Slow Progress Has This Growth Stock Lowering Expectations for 2022

TheMotleyFool

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Slow Progress Has This Growth Stock Lowering Expectations for 2022: https://g.foolcdn.com/editorial/images/677808/gettyimages-1171161017.jpg

Chegg (NYSE: CHGG) reported first-quarter 2022 results after the markets closed on Monday, May 2. The education technology company saw its growth rate decline to just 2% in the first quarter ended in March.

The pandemic's start fueled revenue and engagement as millions of students learned remotely, and on-campus support services like tutoring were paused. As colleges started bringing students back in person, some balked at the idea of crowded classrooms with a potentially deadly virus still circulating. The fall in enrollment decreases demand for support services like Chegg, and it's creating a headwind for 2022.

Image source: Getty Images.

Source Fool.com

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