3D Systems (NYSE:DDD) stock is on the rise Tuesday and we’re taking a look at what has investors so excited.
The good news for DDD stock today comes from its earnings report for the first quarter of 2021. We’re diving into some highlights from that report below.
- The report starts off strong with adjusted earnings per share of 17 cents for the quarter.
- That easily blows past Wall Street’s estimate of 2 cents in Q1.
- On top of that, it’s well above the per-share loss of 4 cents from the same time last year.
- The good news for DDD stock keeps coming with Q1 revenue of $146.1 million.
- That sounds beats out analysts’ estimate of $136.63 million for the period.
- It’s also a solid gain compared to revenue of $135.6 million from the first quarter of 2020.
- Another positive from the earnings report is a net income of $45.2 million.
- This is a switch from 3D Systems’ net loss of $18.9 million from the same period of the year prior.
- Operating loss for the quarter comes in at $2 million.
- That’s much narrower than the company’s operating loss of $18.2 million reported in Q1 2020.
Dr. Jeffrey Graves, president and CEO of 3D Systems, said this about the results boosting DDD stock up today.
“We delivered almost 8% year-over-year revenue growth despite divestments of non-core businesses in 2020 and 2021. When we exclude the revenue from these divested businesses, organic revenue grew nearly 17%. Our Healthcare business continues to deliver exceptional growth, posting a 39% year-over-year increase, with strength in both dental and medical applications.”
DDD stock is also seeing heavy trading on today’s news. As of this writing, more than 30 million shares of the stock have changed hands. That’s quite the jump from its daily average trading volume of 4.2 million shares.
DDD stock was up 22.6% as of Tuesday morning and is up 108.1% since the start of the year.
If you’re looking for other earnings news for today, you’re at the right place.
We’re knee-deep in earnings season and InvestorPlace is keeping up with the biggest reports. That includes those from Palantir (NYSE:PLTR), Marathon Digital (NASDAQ:MARA), and Workhorse (NASDQ:WKHS). Get up to speed on those earnings reports at the links below.
More Earnings News
- PLTR Stock: 5 Things to Know About Palantir Tuesday as Shares Rise
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- WKHS Stock: Why EV Play Workhorse Is Driving Lower Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.