Chegg Shares Dive 34% After Cutting 2Q, 2022 Revenue Guidance

Tiger Newspress2022-05-03

Chegg Inc(CHGG) shares dove 34.71% to $16.31 in premarket trading after the company lowered its future revenue outlook, citing issues related to enrollment, the economy and inflation.The company, which operates a learning platform for students, guided for revenue to range between $188 million and $192 million in the second quarter as well as revenue in the range of $740 million and $770 million for full year 2022. Analysts polled by FactSet expected revenue of $210.6 million in the second quarter and revenue of $843.4 million for full year 2022.

Chief Executive Dan Rosensweig said in prepared remarks that while it expects trends to be temporary, the company is reducing its guidance to better reflect the current market conditions.

Chegg on Monday also posted its first-quarter earnings. The company swung to a profit of $5.7 million, or 4 cents a share, for the quarter ended March 31, compared to a loss of $65.2 million, or a loss of 49 cents a share, in the year-ago period. Adjusted earnings were 32 cents a share. Analysts polled by FactSet expected 24 cents a share.

Revenue rose 2% to $202.2 million from $198.4 million. Analysts polled by FactSet expected $203 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

JuniorCool
2022-05-03
JuniorCool
Nice 👍
cHao7
2022-05-03
cHao7
Woah
Slee49
2022-05-03
Slee49
OK
Jjlim
2022-05-03
Jjlim
👍🏻

Leave a comment

4

97

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1125330288?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-05-03 16:03","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1125330288","market":"us","top_or_hot":-1,"title":"Chegg Shares Dive 34% After Cutting 2Q, 2022 Revenue Guidance","media":"Tiger Newspress","content":"<html><head></head><body><p>Chegg Inc(CHGG) shares dove 34.71% to $16.31 in premarket trading after the company lowered its future revenue outlook, citing issues related to enrollment, the economy and inflation.<img src=\"https://static.tigerbbs.com/52714ea4e478e0f96c1892468b32e7af\" tg-width=\"883\" tg-height=\"660\" referrerpolicy=\"no-referrer\"/>The company, which operates a learning platform for students, guided for revenue to range between $188 million and $192 million in the second quarter as well as revenue in the range of $740 million and $770 million for full year 2022. Analysts polled by FactSet expected revenue of $210.6 million in the second quarter and revenue of $843.4 million for full year 2022.</p><p>Chief Executive Dan Rosensweig said in prepared remarks that while it expects trends to be temporary, the company is reducing its guidance to better reflect the current market conditions.</p><p>Chegg on Monday also posted its first-quarter earnings. The company swung to a profit of $5.7 million, or 4 cents a share, for the quarter ended March 31, compared to a loss of $65.2 million, or a loss of 49 cents a share, in the year-ago period. Adjusted earnings were 32 cents a share. Analysts polled by FactSet expected 24 cents a share.</p><p>Revenue rose 2% to $202.2 million from $198.4 million. Analysts polled by FactSet expected $203 million.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chegg Shares Dive 34% After Cutting 2Q, 2022 Revenue Guidance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChegg Shares Dive 34% After Cutting 2Q, 2022 Revenue Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n2022-05-03 16:03 北京时间&nbsp;&nbsp;&nbsp;<strong>Tiger Newspress</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chegg Inc(CHGG) shares dove 34.71% to $16.31 in premarket trading after the company lowered its future revenue outlook, citing issues related to enrollment, the economy and inflation.The company, ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CHGG","symbol_name":"Chegg Inc","start_time":0,"source_url":"","article_id":"1125330288","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1125330288","pubTimestamp":1651565010,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Chegg Inc(CHGG) shares dove 34.71% to $16.31 in premarket trading after the company lowered its futu","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CHGG":"Chegg Inc"},"translate_title":"Chegg在削减2022年第二季度收入指导后股价暴跌34%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHGG":0.9},"content_text":"Chegg Inc(CHGG) shares dove 34.71% to $16.31 in premarket trading after the company lowered its future revenue outlook, citing issues related to enrollment, the economy and inflation.The company, which operates a learning platform for students, guided for revenue to range between $188 million and $192 million in the second quarter as well as revenue in the range of $740 million and $770 million for full year 2022. Analysts polled by FactSet expected revenue of $210.6 million in the second quarter and revenue of $843.4 million for full year 2022.Chief Executive Dan Rosensweig said in prepared remarks that while it expects trends to be temporary, the company is reducing its guidance to better reflect the current market conditions.Chegg on Monday also posted its first-quarter earnings. The company swung to a profit of $5.7 million, or 4 cents a share, for the quarter ended March 31, compared to a loss of $65.2 million, or a loss of 49 cents a share, in the year-ago period. Adjusted earnings were 32 cents a share. Analysts polled by FactSet expected 24 cents a share.Revenue rose 2% to $202.2 million from $198.4 million. Analysts polled by FactSet expected $203 million.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9061132138,"gmtCreate":1651584030719,"gmtModify":1676534930586,"author":{"id":"3562243274819478","authorId":"3562243274819478","name":"JuniorCool","avatar":"https://community-static.tradeup.com/news/7a2e9cd535a46f5c8c62c2668af829d0","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3562243274819478","authorIdStr":"3562243274819478"},"htmlText":"Nice 👍&nbsp;","listText":"Nice 👍&nbsp;","text":"Nice 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9061132138","repostId":1125330288,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9061107631,"gmtCreate":1651581501237,"gmtModify":1676534930185,"author":{"id":"3571630433284403","authorId":"3571630433284403","name":"cHao7","avatar":"https://static.tigerbbs.com/3800b5d66328f3184368a219227b02a3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571630433284403","authorIdStr":"3571630433284403"},"htmlText":"Woah","listText":"Woah","text":"Woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9061107631","repostId":1125330288,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9061359008,"gmtCreate":1651573562618,"gmtModify":1676534929154,"author":{"id":"3581993357014262","authorId":"3581993357014262","name":"Slee49","avatar":"https://static.tigerbbs.com/a4a9c556617a3ec3446f5c1c667b4aa0","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3581993357014262","authorIdStr":"3581993357014262"},"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9061359008","repostId":1125330288,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9061314904,"gmtCreate":1651566888789,"gmtModify":1676534928356,"author":{"id":"3575345780958036","authorId":"3575345780958036","name":"Jjlim","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575345780958036","authorIdStr":"3575345780958036"},"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9061314904","repostId":1125330288,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":97,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1125330288"}