On Monday’s earnings call, Rosensweig said ChatGPT, the suddenly popular chatbot from startup OpenAI, was “having an impact on our new customer growth rate.” The company, which initially became well known for developing a textbook rental model for college students, has expanded into homework and exam help products. Chegg said it was only providing guidance for the coming quarter and not for the full year because it’s “too early to tell how this will play out.” Rosensweig reminded investors, during the CNBC interview, that Chegg generates free cash flow and earnings, on an adjusted basis, and has “more than enough cash to pay off our debt.”
https://www.cnbc.com/2023/05/02/chegg-ceo-chatgpt-stock-plunge-was-extraordinarily-overblown.html