Chegg shares rally on strong revenue outlook
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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