Chegg (CHGG) Shares Up 8% on Q4 Beat and Raise

Chegg (NYSE: CHGG) shares were trading 8% higher after-hours following the company’s Q4 results, with EPS coming in at $0.38, beating the Street estimate of $0.31. Revenue grew 1% year-over-year to $207.5 million, compared to the consensus estimate of $195.2 million. Services revenue increased 6% year-over-year to $187.2 million, representing 90% of total net revenues, compared to 86% in Q4/20.

The company expects Q1/22 revenue in the range of $200-205 million, compared to the consensus estimate of $198.1 million. Services revenues are expected to range from $183 million to $188 million.

The company expects full 2022-year revenue of $830-850 million, above the consensus estimate of $826.9 million. Services revenues are expected to be in the range of $770 million to $790 million.

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