SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Chegg Inc. (CHGG) on Monday reported a loss of $616.9 million in its second quarter.
The Santa Clara, California-based company said it had a loss of $6.01 per share. Earnings, adjusted for asset impairment costs and pretax expenses, were 24 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The an online learning platform posted revenue of $163.1 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $159.6 million.
For the current quarter ending in September, Chegg said it expects revenue in the range of $133 million to $135 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHGG at https://www.zacks.com/ap/CHGG
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