DexCom: 3Q Earnings Snapshot
SAN DIEGO (AP) _ DexCom Inc. (DXCM) on Tuesday reported third-quarter net income of $46.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had net income of 52 cents. Earnings, adjusted for non-recurring gains, came to 17 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The medical device company posted revenue of $266.7 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $242.1 million.
DexCom expects full-year revenue of $975 million.
DexCom shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $132.76, more than doubling in the last 12 months.