Why Is Chegg (CHGG) Stock Plunging 20% Today?

Chegg (NYSE:CHGG) stock is falling on Tuesday following the release of the online education company’s earnings report for the first quarter of 2024.That’s despite it reporting adjusted earnings per share of 26 cents alongside revenue of $174.35 million. Both of these are better than Wall Street’s estimates of 25 cents per share and $174.1 million in revenue.Unfortunately, both Chegg’s adjusted EPS and revenue are down year-over-year. The company’s EPS for Q1 2023 was 27 cents while its revenue was $187.6 mi ...