DexCom (NASDAQ:DXCM) stock was on the rise Thursday following the release of a strong earnings report for the second quarter of 2018.
DexCom’s positive earnings report for the second quarter of the year begins with losses per share of 10 cents. This is better than the company’s losses per share of 14 cents from the same time last year. It was also great news for DXCM stock by beating out Wall Street’s losses per share estimate of 18 cents for the period.
During the second quarter of the year, DexCom reported net income of $30.20 million. This is an increase over the manufacturer of glucose monitoring systems’ net income of $2.90 million in the second quarter of 2017.
DexCom also reported an operating loss of $4.90 million for the second quarter of 2018. The company’s operating loss from the same period of the year prior was $13.60 million.
Revenue of $242.50 million for the second quarter of the year was also a boon to DXCM stock today. This is up from its revenue of $170.60 million that was reported in the second quarter of the previous year. It also came in well above analysts’ revenue estimate of $221.15 million for the quarter.
DexCom also took time in its most recent earnings report to update its guidance for the full year of 2018. It says it now expects revenue for the year to come in around $925 million. It was previously expecting 2018 revenue to range from $850 million to $860 million. Wall Street is estimating revenue of $862.25 million for the year.
DXCM stock was up 30% as of Thursday afternoon and is up 64% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.