EXACT Sciences Corporation (NASDAQ: EXAS) is off to an incredibly strong start to the trading session today, and for good reason. The company reported earnings for the first quarter, beating expectations and exciting investors. As a result, the stock went on a path toward the sky, prompting our partners at Trade Ideas to alert us to the gains. At the moment (10:27), EXAS is trading at $29.04 per share after a gain of $5.25 per share (22.04%) thus far today.
EXAS Reports Strong Earnings
As mentioned above, EXACT Sciences is off to an incredibly strong day in the market today after reporting its earnings results for the first quarter. Here’s what we saw from the report:
- Earnings Per Share – In terms of earnings per share, EXAS did overwhelmingly well. During the first quarter, analysts expected that the company would generate a loss of $0.41 per share. However, the company reported a loss of $0.32 per share – $0.09 better than expectations.
- Revenue – Revenue also proved to be overwhelmingly positive for EXAS. During the quarter, analysts expected that the company would generate revenue in the amount of $37.29 million. However, the company actually generated revenue in the amount of $48.4 million.
- Guidance – Finally, to top everything off, EXACT Sciences has strong expectations for the 2017 year. During the year, the company is expecting revenue to come in between $195 and $205 million. That’s great news, considering that analysts are only expecting to see $178 million.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on EXAS. In particular, we’ll be following their performance throughout the year and we are excited to see the results, especially considering the high bar the company has set for itself. We’ll continue to follow the story closely and bring the news to you as it breaks.
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