Pacific Biosciences of California Earnings: Here’s Why Investors are Excited Now
Pacific Biosciences of California, Inc. (NASDAQ:PACB) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.29%.
Pacific Biosciences of California, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.37 in the quarter versus EPS of $-0.50 in the year-earlier quarter.
Revenue: Decreased 44.22% to $5.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pacific Biosciences of California, Inc. reported adjusted EPS loss of $0.37 per share. By that measure, the company beat the mean analyst estimate of $-0.38. It beat the average revenue estimate of $5.29 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 4.76% from $5.88 million in the previous quarter. EPS increased to $-0.37 in the quarter versus EPS of $-0.39 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.43 to a loss $0.39. For the current year, the average estimate has moved up from a loss of $1.91 to a loss of $1.47 over the last ninety days.