Dexcom (NSDQ:DXCM) topped sales and earnings expectations on Wall Street today with its second-quarter financial results.
The San Diego, Calif.-based company posted profits of $30.2 million, or 34¢ per share, on sales of $242.5 million for the three months ended June 30, representing a whopping 941% increase in profits and a 42% increase in sales compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -10¢, ahead of the -18¢ consensus on The Street, where analysts were looking for sales of $205.7 million.
“Q2 was a fantastic quarter for Dexcom and demonstrates that CGM adoption is increasing significantly,” president & CEO Kevin Sayer said in prepared remarks. “This performance was particularly notable considering we only began launching our revolutionary G6 platform late in the quarter, and we are pleased to be able to raise our full-year growth outlook.”
Dexcom said it expects to post sales of $925 million for the full year, up from the prior range of $850 million to $860 million.
DXCM shares were trading at $107.00 apiece today after close, up 12%.
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