Chegg Earnings: CHGG Stock Skyrockets on Q4 Earnings Beat

The stock was up more than 9% after the bell

Chegg earnings (NYSE:CHGG) were rolled out to the public after hours on Monday and the company’s earnings and revenue totals came in ahead of what analysts were calling for, while it also increased its guidance, helping to lift CHGG stock close to 10% late in the day.

Chegg EarningsThe Santa Clara, Calif.-based education technology company said that for its fourth quarter of its fiscal 2018, it brought in net income of $5.3 million, or 4 cents per share. In the year-ago quarter, the company’s earnings came in at $3.7 million, or 3 cents per share, which marked a 43.24% gain in net income year-over-year.

Chegg added that its adjusted earnings tallied up to $31.8 million, or 25 cents per share for the period, which marked a 75.6% surge when compared to its year-ago quarter adjusted profit of $18.1 million, or 15 cents per share. Analysts were calling for the company to amass adjusted earnings of 21 cents per share, according to data compiled by FactSet.

On the revenue front, the tech company brought in sales of $95.7 million, increasing 30% when compared to the year-ago quarter. The Wall Street consensus estimate was calling for Chegg to rake in sales of $91.6 million, according to data compiled by FactSet.

The company also increased its fiscal 2019 revenue guidance to between $390 million and $395 million after finishing 2018 “with more momentum than expected. Wall Street sees this figure as $388 million, per FactSet.

CHGG stock is surging roughly 9.2% after the bell on Monday afternoon following a positive end to the company’s fiscal 2018 that was followed by an encouraging first-quarter guidance to begin its 2019. Shares had been popping about 1.2% during regular trading hours as Chegg geared up to report for its period.

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