Stock Track | Exact Sciences Stock Plunges After Lower Q3 Earnings and Outlook

Stock Track

Nov 06, 2024

Exact Sciences Corporation (NASDAQ: EXAS), a leading provider of cancer screening and diagnostic tests, saw its stock price plummet in after-hours trading on November 5, 2024, following the release of its third-quarter 2024 financial results and a lowered full-year outlook.

For the third quarter, Exact Sciences reported revenue of $709 million, an increase of 13% year-over-year, but missed analysts' expectations of $717.66 million. The company posted a net loss of $38.2 million, or $0.21 per share, slightly better than analysts' estimates of a $0.20 per share loss.

However, the company lowered its full-year 2024 revenue guidance to a range of $2.73 billion to $2.75 billion, down from its previous estimate of $2.81 billion to $2.85 billion, citing weaker-than-expected Screening revenue. Additionally, Exact Sciences cut its adjusted EBITDA outlook for the year to $310 million to $320 million, down from the prior range of $335 million to $355 million.

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The company posted a net loss of $38.2 million, or $0.21 per share, slightly better than analysts' estimates of a $0.20 per share loss.</p>\n\n<p>However, the company lowered its full-year 2024 revenue guidance to a range of $2.73 billion to $2.75 billion, down from its previous estimate of $2.81 billion to $2.85 billion, citing weaker-than-expected Screening revenue. Additionally, Exact Sciences cut its adjusted EBITDA outlook for the year to $310 million to $320 million, down from the prior range of $335 million to $355 million.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EXAS","symbol_name":"精密科学","start_time":0,"source_url":"","article_id":"1156318044","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156318044","pubTimestamp":1730880668,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Exact Sciences Corporation , a leading provider of cancer screening and diagnostic tests, saw its stock price plummet in after-hours trading on November 5, 2024, following the release of its third-quarter 2024 financial results and a lowered full-year outlook.For the third quarter, Exact Sciences reported revenue of $709 million, an increase of 13% year-over-year, but missed analysts' expectations of $717.66 million. 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