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Why Chegg Stock Chugged 9% Higher on Friday

Eric Volkman, The Motley Fool
·2-min read

Although we're in the thick of the summer, school was definitely in session for online education company Chegg (NYSE: CHGG) on the last trading day of the week. According to the figures published after market hours by Chegg on Thursday, the company's total net revenue for its second quarter was just under $195 million, representing a slight (2%) year-over-year decline. Non-GAAP (adjusted) net income saw a steeper fall, lowering to nearly $55 million ($0.37 per share) from the year-ago result of almost $72 million.

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