Pacific Biosciences of California Inc reports results for the quarter ended in June - Earnings Summary

Pacific Biosciences of California

07/08/2024 22:23

* Pacific Biosciences of California Inc  PACB.OQ  reported a
quarterly adjusted loss of 64 cents​​ per share for the quarter
ended in June, lower than the same quarter last year, when the
company reported EPS of -28 cents.  The mean expectation of
fourteen analysts for the quarter was for a loss of 23 cents per
share. Wall Street expected results to range from -29 cents
to -19 cents per share.
    * Revenue fell 24.3% to $36.01 million from a year ago;
analysts
expected $40.88 million. 
    * The company reported a quarterly loss of $173.32 million.
    * Pacific Biosciences of California Inc shares had risen
by 16.8%
this quarter and lost 83.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the advanced
medical
equipment & technology peer group is also "buy"

Wall Street's median 12-month price target for Pacific
Biosciences of California Inc is $3.00 
This summary was machine generated from LSEG data August 7 at
09:22 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.23          -0.64          Missed
 Mar. 31 2024      -0.28          -0.29          Missed
 Dec. 31 2023      -0.29          -0.31          Missed
 Sep. 30 2023      -0.33          -0.26          Beat