NovoCure Ltd. (NASDAQ: NVCR), a global oncology company, saw its stock plummet 5.3% in the intraday trading session on Friday, following the release of its full-year 2024 earnings results.
The company reported revenue of $605.2 million for the fiscal year 2024, up 19% year-over-year and in line with analyst estimates. However, NovoCure's earnings per share (EPS) fell short of expectations, missing by 20% at a loss of $1.56 per share.
The EPS miss appears to have weighed heavily on investor sentiment, as the company's shares had already experienced an 11% decline over the past week leading up to the earnings release. While NovoCure's revenue growth remained solid, the wider-than-expected net loss suggests potential challenges in managing costs or meeting profitability targets.
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