5 Stocks that Just Delivered Impressive Quarterly Earnings

In this article we discuss the 5 stocks that just delivered impressive quarterly earnings. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks that Just Delivered Impressive Quarterly Earnings.

5. Chegg, Inc. (NYSE: CHGG)

Number of Hedge Fund Holders: 33

Online tutoring company Chegg recently announced second-quarter profit and sales above expectations. Chegg reported earnings of 43 cents per share for the quarter ended June 30, up from 37 cents per share in the comparable period of 2020. Revenue for the quarter jumped 30 percent on a year-over-year basis to $198.5 million.

The results surpassed the consensus forecast of 38 cents per share for earnings and $190 million for revenue. The impressive quarterly performance was mainly driven by a 38 percent surge in services revenues.

Speaking on the results, CEO Dan Rosensweig said, “Chegg had a great Q2 with total revenue growth of 30%, driven by 38% growth in Chegg Services revenue with Chegg Services subscribers growing to 4.9 million in the quarter. Our international growth also continues to be strong, and we are confident we will exceed our initial expectation of over one million international subscribers for the year.”

Chegg also issued its sales outlook for the third quarter and FY 2021. The company expects revenue in the range of $170 million to $175 million for the current quarter. For the full year, revenue is expected to come between $805 million and $815 million.