Welcome to our dedicated page for Chegg news (Ticker: CHGG), a resource for investors and traders seeking the latest updates and insights on Chegg stock.
Chegg, Inc. (NYSE: CHGG) is a publicly held learning platform based in Santa Clara, California, operating in the educational services sector. News about Chegg often centers on its role as a student-first connected learning platform and its evolution into a skilling-focused organization serving students, lifelong learners, and businesses.
On this page, readers can find coverage of Chegg’s earnings announcements, strategic updates, and restructuring plans. The company regularly issues press releases and files Form 8-K reports related to quarterly and annual financial results, guidance, and the performance of its Subscription Services and Skills and Other categories. These updates often highlight trends in Chegg Study, Busuu, and Chegg Skills, as well as the company’s use of AI-powered academic tools.
Chegg’s news flow also includes developments in its strategic focus on the skilling market, including commentary on language learning through Busuu and workplace readiness and professional upskilling through Chegg Skills. The company has reported on partnerships, content licensing agreements, business-to-institution pilots, and initiatives to align its cost structure with its outlook, such as workforce reductions and office changes.
Regulatory and listing-related news is another important theme. For example, Chegg has disclosed receiving a continued listing standard notice from the New York Stock Exchange regarding minimum share price requirements, and has described its plans to address such matters. Investors and observers use Chegg’s news to follow its strategic review outcomes, leadership changes, capital structure actions such as convertible note repurchases, and the ongoing integration of AI into its learning platform.
For anyone tracking CHGG, this news page provides a centralized view of Chegg’s press releases and related disclosures, offering context on how the company is positioning itself within academic support, language learning, and workforce skilling.
Chegg, Inc. (NYSE: CHGG) announced its earnings results for Q1 2023, which will be released on May 1, 2023, after market close. A conference call to discuss these results is scheduled for 1:30 p.m. PDT on the same day. Participants can join the call by dialing 1-877-407-4018 (or +1-201-689-8471 for international). A live webcast can be accessed here. An audio replay of the call will be available from 7:30 p.m. EDT on May 1 to 11:59 p.m. EDT on May 8, 2023. Chegg continues to focus on student-first learning solutions, supporting learners with their academic and professional development.
Dan Rosensweig, President and CEO of Chegg (NYSE: CHGG), has joined the Board of Directors at upGrad, Asia's largest integrated learning and workforce development company. Appointed as an Independent Non-Executive Director, Rosensweig's extensive experience in education technology is expected to enhance corporate governance and contribute to upGrad's mission of providing accessible higher education. He emphasizes the significance of diverse board composition for growth and expansion, particularly in the US and Indian markets. UpGrad serves over 7 million learners globally with partnerships from over 300 universities.
Chegg, Inc. (NYSE:CHGG) has announced an accelerated share repurchase (ASR) agreement to buy back $150 million of its common stock with J.P. Morgan Chase Bank. Chegg will initially pay $150 million and receive about 7.6 million shares by February 24, 2023. The total shares repurchased will depend on the volume-weighted average price during the ASR term. This move is part of Chegg's $2 billion securities repurchase program, with $642.6 million still available as of January 31, 2023. Chegg's CEO expressed optimism about leveraging technology and proprietary content to enhance shareholder value.
Chegg, Inc. (NYSE:CHGG) reported its Q4 and full-year 2022 financial results, highlighting a 10% growth in Chegg Services revenue, with a total revenue of $205.2 million in Q4 and $766.9 million annually. Subscription Services revenues reached $177.5 million in Q4, a 4% year-over-year increase, and $672 million for the full year, growing 9%. Subscriber count rose to 8.2 million, up 5%. Looking ahead, the company projects Q1 2023 revenues between $184 million and $186 million, with a gross margin of 72%-73%.
DoorDash (NYSE: DASH) has partnered with Chegg (NYSE: CHGG) to provide US Chegg Study Pack subscribers with a free DashPass Student membership. This initiative aims to enhance savings and convenience for students by offering unlimited $0 delivery fees and exclusive promotions. Subscribers can activate their membership immediately, allowing for affordable on-demand delivery from numerous restaurants and retailers. With a DashPass Student membership, Chegg users benefit from 5% DoorDash credits on Pickup orders, all for a significantly reduced price compared to standard plans. The promotion is available until August 1, 2023.
Chegg (NYSE: CHGG) is set to release its earnings results for the fourth quarter and full fiscal year of 2022 on February 6, 2023, after market close. A conference call will follow at 1:30 PM PST (4:30 PM EST) to discuss the financial results. Access to the call will be available via telephone and through a live webcast on the Chegg investor relations website. An audio replay will commence at 7:30 PM EST on the same day and will be available until February 13, 2023.
Chegg (NYSE: CHGG) has announced a global partnership with Calm, providing Chegg Study Pack users free access to Calm Premium, featuring hundreds of hours of mindfulness content in seven languages. This initiative aims to help students manage stress, improve focus, and enhance overall mental well-being, addressing the significant anxiety many students face regarding their studies. A recent study indicates that 74% of students feel anxious about academic demands, highlighting the growing need for mental health support in education.
Chegg, Inc. reported its Q3 2022 financial results, revealing total net revenues of $164.7 million, down 4% year-over-year. However, Chegg Services revenues rose by 8% to $159.3 million, constituting 97% of total revenues. The company’s net income surged to $251.6 million, attributed to a one-time tax benefit and debt extinguishment gain. The firm anticipates Q4 revenues between $200 million and $203 million, with full-year revenues expected between $762 million and $765 million.
Chegg Inc. (NYSE: CHGG) announced the promotion of Nathan Schultz to Chief Operating Officer, effective immediately. Schultz, who has been with Chegg for 15 years, previously served as President of Learning Services. In his new role, he will oversee consumer-facing products, focusing on expanding Chegg's direct-to-student services, including learning tools and career skills training, to enhance the overall consumer experience. CEO Dan Rosensweig noted Schultz's transformational leadership and significant contributions to supporting student learning.
Chegg, Inc. (NYSE: CHGG) will release its third-quarter earnings results for 2022 on November 1, 2022. The earnings call is scheduled for 1:30 PM PT (4:30 PM ET) on the same day. Investors can access the call via phone or through a live webcast at the Chegg investor relations site. A replay will be available from 7:30 PM ET on November 1 until 11:59 PM ET on November 8, 2022.