Exact Sciences reports 4Q loss
Madison-based Exact Sciences Corp. on Tuesday reported a loss of $127.7 million in its fourth quarter, according to a report from the Associated Press. The losses amount to 72 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 90 cents per share.
The molecular diagnostics company posted revenue of $553 million in the period, which also beat forecasts. Three analysts surveyed by Zacks expected $519.3 million.
For the year, the company reported that its loss widened to $623.5 million, or $3.54 per share. Revenue was reported as $2.08 billion.
Exact Sciences expects full-year revenue in the range of $2.27 billion to $2.32 billion.