Chegg Inc CHGG shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results and issued full-year guidance above analyst estimates.
Chegg said third-quarter revenue decreased 4% year-over-year to $164.7 million, which beat average analyst estimates of $158.34 million, according to Benzinga Pro.
The company reported quarterly earnings of 21 cents per share, which beat average estimates of 14 cents per share.
"Our results reflect excellent execution and show the inherent profitability of our model while we continue to invest for future growth," said Dan Rosensweig, president, and CEO of Chegg.
Chegg expects fourth-quarter revenue to be between $200 million and $203 million versus average analyst estimates of $204.82 million. The company expects full-year revenue to be between $762 million and $765 million versus average estimates of $760.67 million.
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CHGG Price Action: Chegg has a 52-week high of $37.64 and a 52-week low of $21.07.
The stock was up 19.60% in after-hours at $25.22 at the time of publication.
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