Chegg Q3 Earnings: Revenue Beat, EPS Beat, Subscribers Down 8%, Company Rolls Out AI-Powered Experience
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Chegg Inc reported Q3 results with revenue of $157.9 million, beating the consensus estimate of $152.67 million, and adjusted earnings of 18 cents per share, beating analyst estimates of 17 cents per share. However, subscription services revenues and subscribers fell 4% and 8% YoY respectively. The company also announced the rollout of its new AI-powered user experience. For Q4, Chegg expects revenue between $185 million and $187 million, and subscription services revenues between $164 million and $166 million.
October 30, 2023 | 8:43 pm
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Chegg's Q3 results beat estimates, but the decrease in subscription services revenues and subscribers could be a concern. The rollout of the new AI-powered user experience could potentially boost future performance.
While Chegg's Q3 results beat estimates, the decrease in subscription services revenues and subscribers indicates potential challenges in user retention or acquisition. However, the rollout of the new AI-powered user experience could potentially enhance user engagement and boost future performance. The company's Q4 revenue guidance is also in line with estimates, indicating stable outlook.
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