Chegg (NYSE: CHGG) reported Q1 EPS of $0.22, $0.07 better than the analyst estimate of $0.15. Revenue for the quarter came in at $131.6 million versus the consensus estimate of $122.73 million.

“In these difficult times Chegg performed ahead of our expectations and we are grateful to have helped so many students.” said Dan Rosensweig, CEO of Chegg, Inc., “Our belief is that, in every industry, a crisis often accelerates the inevitable and that is what we see happening in higher education.”

“While we are comfortable providing guidance for Q2, there are many unknowns, such as school start dates, enrollment trends, and whether schools will be taught on-campus, online or both,” said Andy Brown, CFO of Chegg, Inc., “As such, it is difficult to predict how much, if any of Chegg’s first half momentum will continue, therefore we believe it is premature to update our guidance for the second half of the year.”

GUIDANCE:

Chegg sees Q2 2020 revenue of $135-137 million, versus the consensus of $123.8 million.

For earnings history and earnings-related data on Chegg (CHGG) click here.