Online study and academic help platform Chegg (NYSE:CHGG) will be reporting earnings tomorrow after market close. Here's what to expect.

Chegg beat analysts' revenue expectations by 1.1% last quarter, reporting revenues of $188 million, down 8.4% year on year. It was a weak quarter for the company, with a decline in its users and slow revenue growth. The company reported 4.6 million users, down 8% year on year.

Is Chegg a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Chegg's revenue to decline 7.2% year on year to $174.1 million, in line with the 7.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they are expecting the business to stay the course heading into earnings. Chegg has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.2% on average.

Looking at Chegg's peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Netflix delivered year-on-year revenue growth of 14.8%, meeting analysts' expectations, and Roku reported revenues up 19%, topping Wall Street's consensus estimates by 3.7%. Netflix traded down 3.4% following the results while Roku was also down 10.3%.

Read our full analysis of Netflix's results here and Roku's results here.

Growth stocks have been quite volatile to start 2024, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 3.9% over the last month. Chegg is up 0.4% during the same time and is heading into earnings with an average analyst price target of $9.3 (compared to share price of $7.25).

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