Chegg reports Q1 EPS (6c), consensus 0c

Reports Q1 revenue $121.4M, consensus $114.61M. “In Q1, we exceeded our revenue and adjusted EBITDA expectations, delivered $16 million of free cash flow and continued to diversify our revenue streams. We are encouraged by the conversations in our strategic alternatives process and the value these organizations see in our business,” said Nathan Schultz, Chief Executive Officer & President of Chegg (CHGG), Inc. “Despite these promising developments, we believe the trends impacting our business will worsen before they get better. We are taking steps to further align costs with our outlook, including an additional restructuring of our business.”