Chegg shares are trading lower after the company reported Q3 financial results, issued Q4 guidance and said Q3 Subscription Services revenues were down 4% year over year.
Portfolio Pulse from Benzinga Newsdesk
Chegg reported Q3 financial results, issued Q4 guidance, and announced a 4% YoY decrease in Q3 Subscription Services revenues. This news led to a drop in the company's share price.
October 31, 2023 | 12:46 pm
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NEGATIVE IMPACT
Chegg's shares are trading lower following the company's Q3 financial results and Q4 guidance, coupled with a 4% YoY decrease in Q3 Subscription Services revenues.
Chegg's Q3 financial results and Q4 guidance, along with a 4% YoY decrease in Subscription Services revenues, are likely to have a negative impact on the company's stock price in the short term. Investors may be concerned about the company's performance and future prospects, leading to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100