Dexcom jumps after hours on Q3 Street-beating earnings
Dexcom (NSDQ:DXCM) shares jumped after hours today on third-quarter results that bettered the consensus forecast.
The San Diego–based continuous glucose monitoring system developer posted profits of $45.8 million, or 50¢ per share, on sales of $396.3 million for the three months ended Sept. 30, for a 1.7% bottom-line slide on sales growth of 48.6%.
Adjusted to exclude one-time items, earnings per share were 65¢, 45¢ ahead of Wall Street, where analysts were looking for sales of $347.96 million.
“Dexcom maintained its robust revenue growth momentum in the third quarter, leading to another significant increase to our full-year revenue outlook,” Dexcom CEO Kevin Sayer said in prepared remarks. “Our team is working hard to meet demand and ensure an exceptional experience for our customers, and we look forward to a strong close to 2019.”
Dexcom updated its sales guidance for between $1.425 billion to $1.45 billion for growth of 38%-41%, compared to previous guidance of $1.325 billion to $1.375 billion (28%-33% growth).
DXCM shares closed down -0.3% at $153.12 per share today but rocketed up 14.3% to $175 per share after hours.