Chegg Shares Rally On Strong Revenue Outlook

By Sue ChangMarketsMarketWatch Pulse

Shares of Chegg Inc. jumped in Monday's extended session after the online textbook vendor issued an upbeat revenue outlook. Chegg reported its first-quarter loss narrowed to $6.4 million, or 7 cents a share, from a loss of $15.7 million, or 18 cents a share, a year earlier. Revenue fell to $62.6 million from $66.7 million a year ago. Based on its performance in the first quarter, the company now expects 2017 revenue in a range of $235 million to $240 million, above the average $231.1 million forecast by analysts in a FactSet survey. Chegg shares rallied 7.5% after hours.

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