Chegg (CHGG) Posts Q1 Loss of $0.34/Share
Chegg (NYSE: CHGG) reported Q1 EPS of ($0.34), which may not compare to the analyst estimate of ($0.07). Revenue for the quarter came in at $84.9 million versus the consensus estimate of $78.2 million.
Chegg sees Q2 2015 revenue of $61-65 million, versus the consensus of $62.22 million.
"2015 is off to a great start with continued momentum in digital revenue, members, customers, and user engagement," said Dan Rosensweig, Chairman and CEO of Chegg. "The Chegg team executed very well, cementing our relationship with Ingram Content Group, adding 500,000 new customers to the Chegg ecosystem, and growing our digital subscribers past 750,000 in the quarter. The strength of our brand, our focus on improving student outcomes and the fundamental shifts in higher education, position us well for long-term growth."
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