Chegg Stock Drops After Q4 Report Shows Major YoY Revenue Decline
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Chegg Inc. (NYSE:CHGG) shares fell 8% in extended trading following its Q4 earnings report, which revealed a significant year-over-year revenue decline from $143.48 million to $72.66 million. The company reported a loss of one cent per share, better than the expected loss of 10 cents. Chegg Skilling revenues increased by 11% year-over-year to $17.7 million. CEO Dan Rosensweig emphasized a strategic shift towards the $40 billion skilling market, aiming for double-digit growth and a debt-free position by 2026.
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