Medical Device Maker DexCom Stock Rises On Q3 Performance - Raises FY23 Outlook, Announces Stock Buyback
Portfolio Pulse from Ryan Gustafson
DexCom, Inc. (NASDAQ:DXCM) reported Q3 earnings of 50 cents per share, beating the estimate of 34 cents. The company's revenue was $975 million, a 27% YoY growth, beating the estimate of $939.2 million. DexCom attributed the growth to volume growth and new customer additions. The company also announced a $500 million share repurchase program and increased its full-year 2023 revenue guidance to $3.575 billion to $3.600 billion range, representing 23% to 24% growth.
October 26, 2023 | 9:18 pm
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DexCom's Q3 earnings beat estimates and the company announced a $500 million share buyback program. The company also raised its FY23 revenue guidance, indicating strong future performance.
DexCom's Q3 earnings beat estimates, indicating strong performance. The announcement of a $500 million share buyback program is a positive signal to investors as it shows the company's confidence in its own stock. The raised FY23 revenue guidance suggests that the company expects continued growth, which is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100