As the world of technology continues to evolve and expand, the potential for investing in artificial intelligence has become increasingly attractive. Artificial intelligence is already spurring a hunt among investors for winners and losers. College textbook-rental company Chegg risks being on the wrong side of this trend, as its recent earnings report has caused its stock price to plunge.
Chegg, Inc. (NYSE:CHGG - Get Rating) - Equities researchers at William Blair issued their Q3 2024 earnings estimates for Chegg in a report released on Monday, June 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $111.00 million for the quarter, compared to analyst estimates of $112.20 million. Chegg’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share.
Chegg sees a tough reaction to a mixed quarter and outlook. Chegg stock traded down 22.7% on Monday following the release of its Q3 2024 earnings report. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $111.00 million for the quarter, compared to analyst estimates of $112.20 million. Chegg’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share.
Check out the companies making headlines before the bell: Chegg — Shares dropped 22.7% following its earnings report Monday. Analysts had expected revenue of $112.20 million and earnings of $0.05 per share, but the company reported revenue of $111 million and earnings of $0.03 per share. investors reacted quickly to the news, sending the stock down nearly 23%.
Chegg fell as much as 23% on Tuesday after it gave investors a disappointing outlook for 2023. The online education company also defended its strategy and defended its position as a leader in the education technology sector. Chegg's guidance was below Wall Street estimates, and investors were quick to react to the news.
Check out the companies making headlines after the bell: Pinterest — The social media stock shed more than 7% after revenue for the recent quarter came in below expectations. The company reported revenue of $585 million and earnings of $0.08 per share, both below analyst expectations. investors reacted quickly to the news, sending the stock down more than 7%.
Chegg (NYSE:CHGG). Chegg shares fell about 20% after the education company's 2023 revenue guidance came in below Wall Street expectations. The company forecast revenue of $722 million to $732 million for the upcoming fiscal year, significantly lower than analyst expectations of $767 million. investors reacted quickly, sending the stock down nearly 20%.
Check out the companies making headlines in premarket trading. Roblox — Roblox shares fell 6.7% after Morgan Stanley downgraded the gaming stock from equal weight to underweight. The investment bank cited concerns about the company's valuation and the potential for slower user growth.
Check out the companies making headlines in midday trading. J.B. Hunt Transport Services — The transportation stock jumped nearly 5% after the company reported better-than-expected earnings and revenue for the recent quarter. The company reported earnings of $1.71 per share and revenue of $2.50 billion, beating analyst expectations of $1.58 per share and $2.49 billion in revenue.
investors have been eagerly awaiting Chegg's earnings report to get a better sense of the company's performance. The stock has seen a turbulent few months since its IPO in April, and the company's recent earnings report and outlook have added to investor uncertainty. Chegg is a leader in the education technology sector, and its performance will be closely watched by investors as the company looks to remain competitive in a rapidly growing industry.
The stock market is a volatile place, and Chegg's recent earnings report and outlook have sent investors on a wild ride. The company's guidance for 2023 was below analyst expectations, and investors have reacted quickly to the news. Despite the stock's recent dip, Chegg remains a leader in the education technology sector, and investors will be watching the company closely as it looks to remain competitive in a rapidly changing market.
Chegg's recent earnings report has sparked investor interest, as the company's outlook for 2023 is below Wall Street expectations. investors have reacted quickly to the news, sending the stock down nearly 20%. Despite the stock's recent dip, Chegg remains a leader in the education technology sector, and its performance will be closely watched by investors as the company looks to remain competitive in a rapidly growing industry.
The stock market is a volatile place, and Chegg's recent earnings report and outlook have sent investors on a wild ride. The company's guidance for 2023 was below analyst expectations, and investors have reacted quickly to the news. Despite the stock's recent dip, Chegg remains a leader in the education technology sector, and its performance will be closely watched by investors as it looks to remain competitive in a rapidly changing market.
investors will be watching Chegg closely as the company looks to remain competitive in the rapidly changing world of education technology. With its recent earnings report and outlook creating uncertainty among investors, Chegg will have to work hard to maintain its position as a leader in the industry.
