IonQ Stock Jumps On Q4 Earnings: What You Need To Know
Portfolio Pulse from Adam Eckert
IonQ Inc (NYSE:IONQ) reported Q4 earnings with revenue of $6.11 million, surpassing the consensus estimate of $5.76 million but missed EPS estimates with a loss of 20 cents per share. The company announced $6.7 million in new bookings and ended the quarter with $455.9 million in cash and investments. IonQ anticipates Q1 revenue between $6.5 million to $7.5 million and full-year 2024 revenue between $37 million to $41 million, with bookings expected between $70 million to $90 million. The company also expects a full-year adjusted EBITDA loss of approximately $110.5 million. IonQ's stock rose 10.5% after hours to $12.39.
February 28, 2024 | 9:45 pm
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IonQ Inc reported higher than expected Q4 revenue but missed EPS estimates. The company forecasts strong revenue growth for 2024 and anticipates significant bookings. IonQ's stock rose 10.5% in after-hours trading.
IonQ's positive revenue surprise and optimistic 2024 outlook, including strong bookings and revenue projections, likely contributed to the stock's after-hours price increase. The miss on EPS estimates is a concern but seems overshadowed by the revenue beat and future growth prospects.
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IMPORTANCE 90
RELEVANCE 100