Stock Track | Arvinas Stock Soars 8.95% Pre-Market Despite Revenue Miss on Robust Earnings Beat

Stock Track

Oct 30, 2024

Shares of Arvinas Holding Company LLC (NASDAQ: ARVN) surged 8.95% in pre-market trading on Tuesday after the biopharmaceutical company reported better-than-expected earnings for the third quarter of 2024, despite missing revenue estimates.

Arvinas reported a quarterly loss of $0.68 per share, significantly beating analysts' consensus estimate of a $0.95 loss per share. However, the company's revenue for the quarter came in at $102.4 million, missing the consensus estimate of $57.421 million.

Despite the revenue miss, investors seem to have focused on the company's robust earnings beat, driving the stock higher in pre-market trading. The strong earnings performance likely reflects Arvinas' continued progress in its drug development pipeline and cost-control measures.

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However, the company's revenue for the quarter came in at $102.4 million, missing the consensus estimate of $57.421 million.</p>\n\n<p>Despite the revenue miss, investors seem to have focused on the company's robust earnings beat, driving the stock higher in pre-market trading. The strong earnings performance likely reflects Arvinas' continued progress in its drug development pipeline and cost-control measures.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARVN","symbol_name":"Arvinas Holding Company LLC","start_time":0,"source_url":"","article_id":"1180816284","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1180816284","pubTimestamp":1730290456,"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":"Shares of Arvinas Holding Company LLC  surged 8.95% in pre-market trading on Tuesday after the biopharmaceutical company reported better-than-expected earnings for the third quarter of 2024, despite missing revenue estimates.Arvinas reported a quarterly loss of $0.68 per share, significantly beating analysts' consensus estimate of a $0.95 loss per share. 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