Chegg reports 4Q loss

Chegg reports 4th-quarter loss of $1.5 million

SANTA CLARA, Calif. (AP) _ Chegg Inc. (CHGG) on Monday reported a fourth-quarter loss of $1.5 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, were 10 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The provider of online textbook rental services posted revenue of $63.1 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $59 million.

For the year, the company reported that its loss narrowed to $42.2 million, or 47 cents per share. Revenue was reported as $254.1 million.

For the current quarter ending in April, Chegg said it expects revenue in the range of $57 million to $59 million.

The company expects full-year revenue of $230 million.

Chegg shares have risen slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.40, an increase of 55 percent in the last 12 months.

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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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Keywords: Chegg, Earnings Report

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