Chegg (NYSE: CHGG) stock rallied 16% after the online education company posted its fourth-quarter earnings report.
Revenue rose 1% year over year to $207.5 million, which beat analysts' expectations for $192.5 million and management's guidance for a 5% to 6% decline. Its adjusted net income declined 18% to $63.5 million, or $0.38 per share, which also beat expectations by $0.07.
The market's response to Chegg's fourth-quarter earnings was much warmer than its reaction to the prior report in November when the stock lost nearly half its value in a single day. However, Chegg stock remains nearly 75% below its all-time high from last February.
Source Fool.com