Amazon Climbs After Q1 Earnings and Chegg Priced Low Before Earnings
Amazon.com is a vast Internet-based enterprise that sells books, music, movies, housewares, electronics, toys, and many other goods, either directly or as the middleman between other retailers and Amazon’s millions of customers.
Amazon is doing well all around, from their commerce end to AWS, Amazon saw a major surge in revenue overall within this past quarter. On top of this, Amazon’s streaming service, Prime Video, has fared during the pandemic, as stuck-at-home consumers have relied on online entertainment
Amazon shares are up 3% after hours after Q1 beats with revenue up 44% on the year to $108.52B and EPS at $15.79, a solid $6.18 above consensus. The earnings release did not include the rumored stock split.
Chegg, Inc., is an American education technology company based in Santa Clara, California. It provides digital and physical textbook rentals, textbook solutions, online tutoring, and other student services.
Over the course of the pandemic, and currently, many high school and college students have attended school online. Chegg has become a go to platform for students to “learn” or more often than not, find answers to their questions. After hitting new highs last year in the pandemic, Chegg has taken a hit and is trading roughly 20% below its highs heading into its first quarter financial release on Monday, May 3. The quarterly report may be promising but it is a stock to watch.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.