Earnings season isn’t over yet. Investors have real reason to continue to watch the markets closely, as a number of high profile stocks continue to report. For investors in IonQ (NYSE:IONQ) and IONQ stock, today has been a very good day.
Currently, shares of IONQ stock have zoomed more than 25% higher on approximately four times the average daily volume of shares. This move is a continuation of some pretty strong momentum over the past month. As it turns out, the company’s stellar earnings have something to do with this rise.
Yesterday, IonQ announced its earnings after market close. These results appear to be much better than what the market was expecting. Accordingly, investors are seeing a very nice reaction to these numbers in today’s session.
Let’s dive into a few things investors may want to know about IonQ and touch on those numbers as well.
What Investors May Want to Know About IONQ Stock
- IonQ is a leader in the development of quantum computing systems.
- The company sells access to its computers with 11 qubits via various cloud platforms.
- This is a relatively young company, having just started in 2015.
- In March, IonQ became the first publicly traded quantum computing company, via a reverse special purpose acquisition company (SPAC) merger.
- This past quarter, the company reported relatively meager income of $223,000.
- However, the company also reported total contract value bookings of $15.1 million.
- As a result, IonQ increased its guidance on bookings.
- Additionally, the company announced a new chip for IonQ’s quantum processing unit.
- IonQ believes this could increase the number of qubits in its system to hundreds on a single chip, up from the dozens currently.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.