Chegg Inc (CHGG) revenue increases 12% to $77 million for Q4
Chegg Inc (NYSE:CHGG) is a textbook rental service that has hit Q4 revenue of $77 million, which is a 12% increase over the same period last year.
Chegg reported earnings per share of 40 cents excluding non-cash items. Chegg’s print revenue increased 3% and digital revenues grew 70% to $16.7 million.
Chegg’s digital revenues accounted for 22% of all their revenue in Q4, which is up from 14% a year ago. Chegg’s revenue increased around 20% to $256 million for the full year.
When the company went public, it started trading at about $11 per share after pricing the IPO at $12.50. The stock closed at $7.94, but is down over 2% in after-hours trading at about $7.71.