Exact Sciences Earnings: Here’s Why Investors are Selling Shares Now
Exact Sciences Corporation (NASDAQ:EXAS) had a loss and missed Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.49%.
Exact Sciences Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.22 in the quarter versus EPS of $-0.18 in the year-earlier quarter.
Revenue: Decreased 0% to $1.04 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Exact Sciences Corporation reported adjusted EPS loss of $0.22 per share. By that measure, the company missed the mean analyst estimate of $-0.18. It met the average revenue estimate of $1.04 million.
Quoting Management: “We continue to make good progress towards completing the FDA submission for our non-invasive, stool-DNA-based colorectal cancer screening test,” said Kevin T. Conroy, the company’s president and chief executive. “We remain confident that the clinical trial will deliver strong results, and continue to actively and systematically prepare for the test’s commercialization.”
Key Stats (on next page)…