- General
- August 3, 2020
- 3 minutes read
Brief: Chegg’s Q2 Results
Chegg CEO Dan Rosensweig. Photo credit: Stuart Isett/Fortune, under Creative Commons license Online education company Chegg has announced its financial…
Chegg CEO Dan Rosensweig. Photo credit: Stuart Isett/Fortune, under Creative Commons license
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Online education company Chegg has announced its financial results for the second quarter of this year, indicating $153 million in revenue, up 63% year-over-year, and net income of roughly $11 million. Revenue is up by a high 63% thanks to a surge in demand for online education services as people widely remain locked out from in-person learning due to the coronavirus pandemic. During the quarter, the number of Chegg’s subscribers grew 67% year-over-year to 3.7 million, and with some 375 million total content views.
For the next quarter of this year, Chegg is forecasting revenue of between $140 million to $145 million. For the full year, the Santa Clara-based company is forecasting revenue of between $605 million to $615 million.