India, May 12 -- Chegg, Inc. (CHGG), Monday reported first-quarter net loss of $17.5 million or $0.17 per share, compared to $1.4 million or $0.01 per share last year.
Adjusted net loss was $6.7 million or $0.06 per share compared to net income of $29.6 million or $0.26 per share last year.
Net revenues were $121.4 million, a decrease of 30% year-over-year from $174.4 million last year.
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"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...