1825 ET - Google's AI Overviews has significantly impacted the business and prospects of online education company Chegg, CEO Nathan Schultz says on a call with analysts as the company files a complaint against the search giant. "Google's AIO has transformed Google from a search engine into an answer engine," Schultz says. This has led to a 49% decline in non-subscriber driver traffic in the month of January, the executive says, adding that Google's competition in an "unjust, harmful and unsustainable" way. Chegg shares drop 22% to $1.21 in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 24, 2025 18:25 ET (23:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.