IonQ Stock Jumps On Q2 Earnings: The Details
Portfolio Pulse from Adam Eckert
IonQ Inc (NYSE:IONQ) reported a significant increase in Q2 revenue, up 106% year-over-year to $11.4 million, despite a quarterly loss of $37.6 million. The company achieved $9 million in new bookings and demonstrated a two-qubit native gate fidelity of 99.9%. IonQ raised its full-year 2024 revenue guidance to $38 million to $42 million. Shares rose 4.41% after-hours.
August 07, 2024 | 8:44 pm
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IonQ Inc reported a 106% increase in Q2 revenue to $11.4 million, despite a quarterly loss of $37.6 million. The company achieved $9 million in new bookings and demonstrated a two-qubit native gate fidelity of 99.9%. IonQ raised its full-year 2024 revenue guidance to $38 million to $42 million. Shares rose 4.41% after-hours.
IonQ's significant revenue growth, new bookings, and technical advancements in quantum computing positively impact investor sentiment. The raised full-year guidance and after-hours stock price increase indicate a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100