Chegg has reported its second quarter earnings for 2024, revealing a total net revenue of $163.1 million, which is an 11% decrease year-over-year. The company's subscription services revenue also saw an 11% decline, amounting to $146.8 million. Chegg's gross margin stood at 72%, with a non-GAAP gross margin of 75%. The company reported a net loss of $616.9 million and an income from operations of -$485.007 million, significantly missing the IBES estimate of $22.3 million. Gross profit was $117.736 million. Despite adjusted net income of $26.5 million and earnings per share of 28 cents, Chegg shares fell 17.41% to $2.42 in extended trade. CFO acknowledged the challenges faced by the ed-tech sector, stating, "while these numbers are not where we want them to be, like many companies in the ed-tech space, we are dealing with the challenges of the changing landscape."