CHEGG, INC. - CHGG STOCK NEWS

Chegg has announced its acquisition of Busuu, a leading digital language learning platform, in a cash deal valued at approximately $436 million. This acquisition targets the growing $17 billion digital language learner market, with Busuu boasting over 120 million learners worldwide and projected 2021 revenue of $45 million. The deal aims to enhance Chegg's offerings for both students and professionals, while also expanding its international reach.

Chegg, Inc. reported its Q3 2021 results, showing a 12% year-over-year revenue increase to $171.9 million. Chegg Services revenue rose 23% year-over-year to $146.8 million, representing 85% of total revenues. Despite a slowdown in the education sector attributed to the COVID-19 pandemic, net income was $6.7 million, with a non-GAAP net income of $33.9 million. The board approved a $500 million increase to its securities repurchase program, now totaling $1 billion. Guidance for Q4 expects revenues between $194 million and $196 million.

Chegg has established a new academic advisory board composed of senior officials from prestigious institutions including Harvard, Stanford, and Southern New Hampshire University. This initiative aims to enhance student learning and uphold academic integrity. The board will offer feedback on Chegg's offerings, providing insights into faculty needs. Leading this board is Dr. Paul J. LeBlanc of SNHU. The formation of this board underscores Chegg's commitment to shaping educational content and supporting students as they transition from school to career.

Chegg, Inc. (NYSE: CHGG) will announce its third-quarter earnings results for the period ending September 30, 2021, on November 1, 2021, after market close. A conference call will take place at 1:30 PM PT (4:30 PM ET) the same day to discuss the financial results. Investors can listen in by calling 1-877-407-4018 within the U.S. or +1-201-689-8471 from outside the U.S. An audio replay will be available from 7:30 PM ET on November 1 until 11:59 PM ET on November 8, 2021. For more details, visit Chegg’s investor page.

JPMorgan Chase & Co has acquired Frank, a leading college financial planning platform, aiming to enhance financial navigation for millions of students and families. This acquisition includes Frank's services, such as Easy FAFSA® and the Classfinder College Course Marketplace, catering to a diverse demographic including low-to-moderate income households. Frank serves over 5 million students across 6,000 institutions, positioning JPMorgan to deepen engagement and support financial literacy among students.

Chegg (NYSE: CHGG) has announced the appointment of Marcela Martin, Chief Financial Officer of Squarespace, to its Board of Directors as of September 15, 2021. Martin brings over 25 years of finance experience in global tech companies, having previously held leadership roles at Booking.com and National Geographic Partners. Her expertise in adapting to market trends is expected to enhance Chegg’s focus on student needs in a rapidly changing educational landscape. Martin will also be part of the Audit Committee.

Chegg, Inc. (NYSE:CHGG) reported strong financial results for Q2 2021, with total net revenues of $198.5 million, marking a 30% year-over-year increase. Chegg Services revenues surged 38% to $173.5 million, representing 87% of total revenues. The company saw subscriber growth, reaching 4.9 million in Chegg Services, up 31% year-over-year. For Q3 2021, Chegg anticipates revenues between $170 million and $175 million, and for the full year, projections range from $805 million to $815 million.

Chegg, Inc. (NYSE: CHGG) will release its second-quarter earnings results for 2021 on August 9, 2021, after market close. This financial report covers the period ending June 30, 2021. Following the release, Chegg will host a conference call at 1:30 p.m. PDT (4:30 p.m. EDT) to discuss the results. Investors can access the call by dialing 1-877-407-4018 or +1-201-689-8471 (internationally), and a live webcast will be available at investor.chegg.com. An audio replay will be available from August 9 to August 16, 2021.

Chegg (NYSE: CHGG) has launched Uversity, a new platform enabling educators to share educational content with millions of students globally. Uversity aims to enhance the existing Chegg Study service, which already features 59 million step-by-step solutions. With 80% of students valuing instructor-created materials, Uversity allows educators to upload diverse resources like study notes and videos. The platform will initially be open to accredited U.S. faculty, providing compensation for content contributions while retaining their intellectual property rights.