Why Did Distance Learning Company Chegg Go Up 42.9% in May?
Shares of Chegg (NYSE: CHGG), a provider of online education services, went up 42.9% in May, according to data provided by S&P Global Market Intelligence.
Investors cheered first-quarter 2020 results, reported May 4, that exceeded the company's expectations, bidding the stock price up.
Revenue was $131.6 million, up 35% from a year earlier, beating projected revenue of $122 million to $125 million. Non-GAAP profit was $0.22 a share, beating the Street consensus at $0.15. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), was $31.8 million, ahead of the guidance range of $27.5 million to $28.5 million.
Source Fool.com
