CareDx Expects Full Year 2023 Revenue Of $279M-$280M, Which Is Above The High End Of Guidance; Est $276.43M
Portfolio Pulse from Benzinga Newsdesk
CareDx expects its full-year 2023 revenue to be between $279M-$280M, surpassing the high end of its guidance and analysts' estimate of $276.43M. However, this represents a 13% decrease from the 2022 revenue of $321.8M, mainly due to the impact of the Medicare Billing Article on Testing Services revenue.
January 09, 2024 | 12:08 pm
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POSITIVE IMPACT
CareDx anticipates higher-than-expected revenue for 2023, between $279M-$280M, exceeding the estimate of $276.43M but down 13% from 2022 due to Medicare billing impacts.
The news of CareDx's revenue exceeding expectations is positive and could lead to a short-term increase in stock price. However, the 13% decrease from the previous year's revenue due to Medicare billing issues may temper investor enthusiasm. The direct mention of the company and the financial figures involved make this news highly relevant and important to investors. The confidence in the analysis is high due to the clear financial impact stated in the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100