Chegg Trades Higher On Q2 Earnings Beat

Chegg CHGG shares are trading higher after the company reported better-than-expected second-quarter EPS and sales results Monday afternoon. The company also issued fiscal year 2019 sales guidance above analyst estimates.

Chegg reported quarterly earnings of 23 cents per share, which beat the analyst consensus estimate of 10 cens. This is a 91.67% increase over earnings of 12 cents per share from the same period last year.

Chegg reported quarterly sales of $93.862 million, which beat the analyst consensus estimate of $92.39 million. This is a 26.46% increase over sales of $74.222 million the same period last year.

On Tuesday, Chegg shares were trading up 11.52% at $46.87. The stock has a 52-week high of $48.22 and a 52-week low of $22.67.

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