Exact Sciences reports Q1 losses but exceeds analyst expectations
Exact Sciences Corp. on Tuesday reported a loss of $74.2 million in its first quarter, according to the Associated Press. The Madison-based company said it had a loss of 42 cents per share.
However, the results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 79 cents per share.
The molecular diagnostics company posted revenue of $602.5 million in the period, also beating Wall Street forecasts. Eight analysts surveyed by Zacks expected $542.5 million.
Exact Sciences expects full-year revenue in the range of $2.38 billion to $2.42 billion.