Why Chegg Is Tumbling Today

Rich Duprey, The Motley Fool
·1-min read
Why Chegg Is Tumbling Today
Why Chegg Is Tumbling Today

Shares of Chegg (NYSE: CHGG) are tumbling 10% lower in morning trading Tuesday despite the online education technology leader reporting third-quarter earnings that beat analyst expectations on the top and bottom line. Chegg's revenue surged 54% to $154 million, easily eclipsing the $144 million analysts forecast, as subscribers jumped 69% to 3.7 million. Chegg also upped its outlook for the full year.