Why DexCom Stock Is Falling Today
Shares of DexCom (NASDAQ: DXCM) were falling 5.2% lower as of 11:15 a.m. ET on Friday after sinking as much as 10.9% earlier in the day. The decline came after the diabetes-care technology company announced its second-quarter financial results after the market close on Thursday.
DexCom reported Q2 revenue of $696.2 million, up 17% year over year. However, the total was a little below the consensus Wall Street revenue estimate of $698.6 million.
The company announced Q2 net income of $50.9 million, or $0.12 per diluted share, based on generally accepted accounting principles (GAAP). This result was lower than the GAAP earnings of $78.4 million, or $0.19 per diluted share, in the prior-year period. DexCom posted non-GAAP (adjusted) earnings of $69.5 million, or $0.17 per diluted share. The average analysts' estimate was for non-GAAP earnings of $0.19 per share.
Source Fool.com
