Exact Sciences Stock Climbs After Strong Q2 Results
Portfolio Pulse from Erica Kollmann
Exact Sciences Corp (NASDAQ:EXAS) shares surged after the company reported better-than-expected Q2 financial results. The company posted a quarterly loss of 9 cents per share, significantly beating the analyst consensus estimate of a 32-cent loss. Quarterly sales reached $699.264 million, surpassing the $690.003 million estimate and marking a 12.41% year-over-year increase. Screening revenue rose by 15% to $532 million, and Precision Oncology revenue increased by 6% to $168 million. The company also announced an exclusive licensing agreement with TwinStrand Biosciences. Exact Sciences maintained its full-year revenue guidance of $2.81 billion to $2.85 billion.
July 31, 2024 | 9:45 pm
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Exact Sciences reported a smaller-than-expected loss and higher-than-expected revenue for Q2, leading to a 9.46% increase in share price. The company also announced a new licensing agreement and maintained its full-year revenue guidance.
The strong Q2 results, including a significant beat on EPS and revenue, along with the announcement of a new licensing agreement, have positively impacted investor sentiment. The maintenance of full-year guidance further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100