IonQ Stock Pops On Q1 Earnings: Revenue Beat, EPS Beat, Stronger Guidance On Increased Visibility And More
Portfolio Pulse from Adam Eckert
IonQ Inc (NYSE:IONQ) reported a 77% increase in Q1 revenue year-over-year to $7.582 million, surpassing the consensus estimate of $7.075 million. The company also reported a smaller-than-expected quarterly loss of 19 cents per share, beating analyst estimates for a loss of 24 cents per share. With $300,000 in new bookings and ending the quarter with $434.4 million in cash, equivalents, and investments, IonQ raised its full-year 2024 revenue and bookings guidance. The company's shares were up 3.2% after hours at $9.04.
May 08, 2024 | 8:50 pm
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IonQ reported a significant Q1 revenue increase and a smaller loss per share than expected, leading to a positive after-hours stock price movement. The company also raised its full-year 2024 revenue and bookings guidance.
IonQ's positive earnings report, which included a revenue beat and a smaller-than-expected loss, along with raised guidance for 2024, indicates strong company performance and future growth prospects. This typically leads to positive investor sentiment and could result in a short-term increase in stock price.
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RELEVANCE 100