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Stock Alert: Chegg Down On Wider Q3 Net Loss

Chegg, Inc. (CHGG) shares are sliding on Tuesday morning trade as the company reported a wider net loss for the third quarter.

Currently, the shares are at $76.05, up 12.27 percent from its previous close of $86.69. For the 52-week period, the shares have traded in a range of $78.55 to $82.24 on average volume of 2,800,346.

The company posted third-quarter net loss of $37.14 million, compared to net loss of $11.48 million a year ago. On a per-share basis, the net loss was $0.29, wider than net loss of $0.10 a year ago. Wall Street analysts were expecting earnings of $0.1.
Revenue for the quarter increased to $154.02 million from $94.15 million in the previous year.

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