Dexcom (NSDQ:DXCM) shares took a big jump up today on fourth-quarter results that topped the consensus forecast with relative ease and improved upon losses from the company’s previous fourth quarter.
Shares of DXCM were up 13.8% at $286.96 per share in late-morning trading today.
The San Diego–based continuous glucose monitor maker posted profits of $92.7 million, or $1.00 per share, on sales of $462.8 million for the three months ended Dec. 31, 2019, making vast improvements from Q4 2018’s loss of -$179.7 million on Q4 2019 sales growth of 36.9%.
Adjusted to exclude one-time items, earnings per share were $1.15, 41¢ ahead of Wall Street, where analysts were looking for sales of $442.4 million.
“Dexcom sustained its revenue growth momentum in 2019, exceeding 40% growth for the second consecutive year and driving our first full year of GAAP profitability,” Dexcom chairman, president & CEO Kevin Sayer said in a news release. “We have taken significant steps to prepare the business for longterm growth and believe we are well-positioned as we enter 2020.”
Dexcom reaffirmed its prior sales guidance for fiscal 2020, setting it to range between $1.725 billion and $1.775 billion.
