DexCom Stock Drops After Q3 Results, Announces C-Suite Transition
Portfolio Pulse from Erica Kollmann
DexCom, Inc. (NASDAQ:DXCM) reported Q3 earnings of 45 cents per share, beating estimates, with revenue of $994.2 million. Despite positive results, shares fell 7.94% after-hours. The company announced the retirement of its EVP and CCO, Teri Lawver, with CEO Kevin Sayer temporarily assuming her role. DexCom reaffirmed its 2024 sales outlook.
October 24, 2024 | 8:57 pm
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DexCom reported Q3 earnings and revenue that beat analyst estimates. Despite this, shares fell 7.94% after-hours. The company announced a C-suite transition with the retirement of EVP and CCO Teri Lawver, with CEO Kevin Sayer temporarily taking over her responsibilities. DexCom reaffirmed its 2024 sales outlook.
Despite beating earnings and revenue estimates, DexCom's stock fell 7.94% after-hours, likely due to the announcement of a key executive's retirement, which may have caused investor concern about leadership stability. The reaffirmation of the 2024 sales outlook did not offset these concerns.
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