Stratasys stock was flying high on Thursday following the release of its earnings report for the third quarter of 2018.
Stratasys‘ (NASDAQ:SSYS) earnings report for the third quarter of the year includes earnings per share of 11 cents. This is better than the company’s earnings per share of 8 cents from the same time last year. It was also good news for Stratasys stock by easily beating out Wall Street’s earnings per share estimate of 5 cents for the quarter.
Net loss reported by Stratasys for the third quarter of 2018 came in at $745,000. This is a major improvement over the company’s net loss of $10.24 million from the third quarter of the previous year.
Stratasys also reported operating income of $3.35 million for the third quarter of the year. The 3D printer company reported an operating loss of $6.87 million during the same period of the year prior.
During the third quarter of 2018, Stratasys reported revenue of $162.05 million. This is up from the company’s revenue of $155.87 million reported in the third quarter of 2017. It was also a blessing to Stratasys stock be coming in above analysts’ revenue estimate of $161.61 million for the period.
Stratasys took time in its most recent earnings report to update its guidance for the full year of 2018. It is now expecting earnings per share ranging from 50 cents to 55 cents on revenue between $670 million to $680 million. Wall Street is looking for the company to report earnings per share of 40 cents on revenue of $672.31 million for the year.
SSYS stock was up 20% as of Thursday afternoon, but is down 8% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.