DexCom (DXCM) reported its second-quarter financial results on Thursday, and it’s down 38% after hours.
Earnings and Sales:
Earnings per Share: $0.43, beating the analyst estimate of $0.39 (a 10.26% increase).
Quarterly Sales: $1.004 billion, missing the $1.036 billion estimate by 3.13%.
U.S. Revenue Growth: 19%
International Revenue Growth: 7%
Year-Over-Year Sales Increase: 15.23%
Key Announcements:
Share Repurchase Program: $750 million
CEO's Statement:
Kevin Sayer, DexCom’s CEO, acknowledged that while the company made significant strategic advancements, execution fell short of their high standards. He emphasized their commitment to improving and serving millions more customers globally.
Future Outlook:
Q3 Revenue Forecast: $975 million to $1 billion (vs. $1.15 billion estimate)
Full-Year Revenue Forecast: $4.0 billion to $4.05 billion (vs. previous $4.20 billion to $4.35 billion forecast; analysts expected $4.33 billion)
