Welcome to our dedicated page for CHEGG news (Ticker: CHGG), a resource for investors and traders seeking the latest updates and insights on CHEGG stock.
Chegg, Inc. (symbol: CHGG) is a leading student-first connected learning platform dedicated to making higher education more affordable and accessible, while enhancing student outcomes. Founded in Santa Clara, CA, Chegg operates globally with offices across major cities like San Francisco, New York, Portland, and international locations including India, Israel, Berlin, and Ukraine.
Chegg’s comprehensive student hub offers an array of services aimed at supporting learners throughout their academic journey and beyond. Key offerings include Chegg Study, tutoring, writing tools, math help, test preparation, career search, internship admissions, and college admissions.
The company's services are categorized into two main segments: Subscription Services and Skills and Other. Subscription Services feature the Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu, which can be accessed globally through Chegg’s websites and mobile apps. Skills and Other include products like skills development, advertising services, print textbooks, and eTextbooks.
Chegg is committed to enhancing the educational experience through technology, maintaining a user-centric approach, and constantly evolving its offerings to meet the changing needs of students. The company has received recognition as a certified great place to work, reflecting its positive workplace culture and dedication to employee satisfaction.
Recent developments highlight Chegg’s significant progress. For example, the company’s strategic appointments, like Etay Geller as VP of Product, have been instrumental in advancing core products such as Chegg Study and expanding its mobile app capabilities.
Chegg continues to be a vital resource for students worldwide, providing essential tools and support for academic and career success. For more information, visit Chegg Careers.
Chegg, Inc. (NYSE:CHGG) reported Q1 2021 financial results with total net revenues of $198.4 million, up 51% year-over-year. Chegg Services revenues surged 62% year-over-year, reaching $162.4 million. Despite these gains, the company faced a net loss of $65.2 million due to a $78.2 million loss from debt extinguishment. Non-GAAP net income was $46.4 million, and adjusted EBITDA stood at $57.1 million. With 4.8 million subscribers, Chegg expects Q2 revenues between $188 million to $190 million.
Chegg, Inc. (NYSE: CHGG) will release its first quarter 2021 earnings on May 3, 2021, after market close. The results cover the period ending March 31, 2021. A conference call will follow at 1:30 PM PDT (4:30 PM EDT) to discuss the financial outcomes. Call access is available via phone and a live webcast on Chegg's investor relations site. An audio replay will also be provided from May 3, 2021, at 7:30 PM EDT until May 10, 2021. Chegg focuses on enhancing educational results, offering tools that assist students throughout their academic journey.
Chegg has appointed Lauren Glotzer as the new Chief Strategy Officer, effective April 12, 2021. Previously, Glotzer served as the Executive Vice President of Television Strategy & Operations at Sony Pictures Entertainment. Her experience includes overseeing growth strategies and acquisitions in a global enterprise, which Chegg aims to leverage for scaling its services. CEO Dan Rosensweig expressed optimism about Glotzer's ability to enhance Chegg's mission of supporting students in their educational journeys.
Chegg, Inc. (NYSE: CHGG) has successfully closed its public offering of 11,274,600 shares of common stock at a price of $102.00 per share. This includes 1,470,600 shares purchased through the underwriters' option. Of the total, Chegg sold 10,974,600 shares, while CEO Dan Rosensweig divested 300,000 shares. Chegg will not receive proceeds from Rosensweig's sale. The offering was managed by Morgan Stanley, Goldman Sachs & Co. LLC, and Allen & Company LLC, among others.
Chegg, Inc. (NYSE: CHGG) has priced its upsized public offering of 9,804,000 shares at $102.00 each, expected to close on February 22, 2021. The offering includes a 30-day option for underwriters to purchase an additional 1,470,600 shares. Proceeds will be used for general corporate purposes, including potential acquisitions and debt repayment. Chegg will not receive proceeds from shares sold by the selling stockholder. Morgan Stanley, Goldman Sachs & Co. LLC, and Allen & Company LLC are managing the offering.
Chegg, Inc. (NYSE: CHGG) has announced a public offering of $800 million in common stock. The offering includes an option for underwriters to purchase an additional $120 million in shares. Proceeds will be allocated for general corporate purposes, including acquisitions and debt repayment. Notably, Chegg will not receive proceeds from the shares sold by its CEO, Dan Rosensweig. The offering is contingent on market conditions and may vary in size and terms. Morgan Stanley, Goldman Sachs & Co. LLC, and Allen & Company LLC will manage the offering.
Chegg, Inc. (NYSE:CHGG) reported strong Q4 2020 results, with total net revenues of $205.7 million, a 64% increase year-over-year. Chegg Services revenues grew to $176.0 million, accounting for 86% of total revenues. The net income was $26.0 million, while non-GAAP net income reached $77.8 million.
For the full year, revenues reached $644.3 million, up 57%. The company expects 2021 total net revenues between $780 million and $790 million, with significant growth in Chegg Services.
Chegg, Inc. (NYSE: CHGG) has partnered with Arizona State University to launch a new online training program through its career accelerator, Thinkful. This initiative targets the growing demand for tech talent by offering data science, software engineering, and app design courses, available full-time or part-time, culminating in a Professional Certificate from ASU. According to McKinsey, 375 million workers may need to shift careers due to automation. Thinkful boasts an impressive 83% job placement rate within six months of graduation, aiming to bridge the skills gap in high-paying tech jobs.
Chegg Inc. (NYSE: CHGG) has launched Honor Shield, a new tool for faculty aimed at maintaining the integrity of online assessments amid the pandemic. This free service allows professors to pre-submit exam questions, preventing answers from appearing on Chegg during a specified exam period. Following a successful trial, the service is now available to faculty in the U.S. and will expand globally. Chegg's initiative addresses concerns about academic integrity, especially as a significant percentage of colleges remain partially online.
Chegg, Inc. (NYSE: CHGG) announced its upcoming earnings release for the fourth quarter and full fiscal year 2020, ending December 31, 2020. The results will be disclosed on February 8, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 1:30 PM PST (4:30 PM EST). Investors can access the call by dialing 1-877-407-4018, or through a live webcast at investor.chegg.com. An audio replay will be available post-call until February 15, 2021.
FAQ
What is the current stock price of CHEGG (CHGG)?
What is the market cap of CHEGG (CHGG)?
What is Chegg, Inc.?
What services does Chegg offer?
Where is Chegg headquartered?
What are Chegg's main product categories?
What is included in Chegg's Subscription Services?
What products fall under Chegg's Skills and Other category?
How does Chegg enhance the educational experience?
Is Chegg a certified great place to work?
Who is a notable recent appointee at Chegg?
Where can I find more information about careers at Chegg?
