Chegg Gets Schooled Hard for Its Q1 Results
Online education specialist Chegg (NYSE: CHGG) got a harsh lesson in meeting investor expectations. Following the release of its first-quarter results Monday shortly after market close, the company's stock price plummeted by nearly 35% in after-hours trading. Let's take a look at what made so many investors close their books on the company.
Chegg booked net revenue of $202.2 million for the quarter, which was slightly (2%) better than for the same period last year. It was also a little higher than the nearly $201.3 million average estimate from the analysts tracking the stock.
Image source: Getty Images.
Source Fool.com
