Chegg climbs 13% on additional $1B buyback authorization

Jun. 02, 2022 5:33 PM ETChegg, Inc. (CHGG)By: Manshi Mamtora, CFA6 Comments

Chegg.com Campus Takeover"s "Late Night with Chegg" - Austin

Sarah Kerver/Getty Images Entertainment

  • Chegg (NYSE:CHGG) authorizes increase of its previously announced $1B securities repurchase program, up to an aggregate of $2B shares.
  • Company has ~$65M remaining from its previously announced $1B securities repurchase program.
  • Expects to fund the repurchase program from its existing cash balance and future cash flows from operations.
  • Stock jumps 13% during after-market hours.

Recommended For You

Comments (6)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.