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Chegg Q2 loss narrows YOY

Chegg Inc. said its normalized net income for the second quarter was a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss narrowed 44.5% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.2 million, compared with a loss of $7.3 million in the prior-year period.

The normalized profit margin rose to negative 6.3% from negative 11.4% in the year-earlier period.

Total revenue rose on an annual basis to $67.1 million from $64.5 million, and total operating expenses decreased year over year to $73.8 million from $76.3 million.

Reported net income totaled a loss of $10.1 million, or a loss of 12 cents per share, compared to a loss of $8.2 million, or a loss of 10 cents per share, in the year-earlier period.