Stock Market News

Dexcom lifts 2023 revenue view on strong demand for diabetes devices

2023.10.26 17:00


© Reuters. Type 2 diabetes patient Adedotun Adebayo (15) registers his new Dexcom device, a continuous glucose monitoring system, at his home in Glenarden, Maryland, U.S., July 15, 2021. REUTERS/Hannah Beier/File photo

(Reuters) – Medical device maker Dexcom (NASDAQ:) on Thursday raised its annual revenue forecast and beat quarterly estimates on strong demand for its continuous glucose monitoring (CGM) devices, sending its shares more than 11% higher in extended trading.

Quarterly sales rose 27% to $975 million, surpassing analysts’ estimates of $939.24 million, according to LSEG data.

Larger peer Abbott had also posted strong sales of $1.4 billion for its CGM system, FreeStyle Libre, in diabetes care.

CGM systems track blood sugar levels throughout the day and can transmit glucose readings as frequently as five minutes.

Dexcom raised its annual revenue forecast to between $3.58 billion and $3.6 billion, compared with its previous range of $3.5 billion to $3.55 billion. Analysts expect annual sales of $3.55 billion.

Excluding items, the company posted a profit of 50 cents for the quarter ended Sept. 30, compared with estimates of 35 cents.

Shares of the California-based company rose to $90 after the bell.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 89,249.91 10.93%
ethereum
Ethereum (ETH) $ 3,336.74 4.62%
tether
Tether (USDT) $ 1.00 0.21%
solana
Solana (SOL) $ 220.86 5.19%
bnb
BNB (BNB) $ 652.12 2.46%
dogecoin
Dogecoin (DOGE) $ 0.361931 25.48%
usd-coin
USDC (USDC) $ 1.00 0.19%
xrp
XRP (XRP) $ 0.611985 3.78%
staked-ether
Lido Staked Ether (STETH) $ 3,321.24 4.17%
cardano
Cardano (ADA) $ 0.594766 0.63%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 3.52%
avalanche-2
Avalanche (AVAX) $ 35.68 11.41%
tron
TRON (TRX) $ 0.168212 2.10%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,918.01 3.95%
the-open-network
Toncoin (TON) $ 5.44 1.92%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 88,980.84 10.74%
weth
WETH (WETH) $ 3,342.17 4.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 467.33 4.72%
chainlink
Chainlink (LINK) $ 14.70 2.23%
sui
Sui (SUI) $ 3.15 2.01%
polkadot
Polkadot (DOT) $ 5.56 6.36%
leo-token
LEO Token (LEO) $ 7.66 11.54%
near
NEAR Protocol (NEAR) $ 5.52 14.93%
aptos
Aptos (APT) $ 12.90 17.25%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,520.11 4.95%
crypto-com-chain
Cronos (CRO) $ 0.220875 78.93%
litecoin
Litecoin (LTC) $ 79.50 3.05%
uniswap
Uniswap (UNI) $ 9.19 0.87%
pepe
Pepe (PEPE) $ 0.000013 3.37%
usds
USDS (USDS) $ 1.00 0.29%
bittensor
Bittensor (TAO) $ 616.84 8.71%
internet-computer
Internet Computer (ICP) $ 9.51 4.61%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.62 10.66%
kaspa
Kaspa (KAS) $ 0.14991 1.84%
ethereum-classic
Ethereum Classic (ETC) $ 23.84 3.85%
stellar
Stellar (XLM) $ 0.113769 4.34%
dai
Dai (DAI) $ 1.00 0.30%
blockstack
Stacks (STX) $ 2.21 17.27%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.421885 2.59%
whitebit
WhiteBIT Coin (WBT) $ 21.89 5.37%
dogwifcoin
dogwifhat (WIF) $ 3.06 10.54%
ethena-usde
Ethena USDe (USDE) $ 1.01 0.53%
monero
Monero (XMR) $ 156.49 1.74%
aave
Aave (AAVE) $ 189.53 0.39%
okb
OKB (OKB) $ 47.28 10.35%
render-token
Render (RENDER) $ 6.86 19.73%
mantle
Mantle (MNT) $ 0.795154 2.77%
filecoin
Filecoin (FIL) $ 4.45 4.06%
arbitrum
Arbitrum (ARB) $ 0.662892 4.86%
injective-protocol
Injective (INJ) $ 26.43 3.30%