Why Livongo Health Stock Is Soaring Today
Shares of Livongo Health (NASDAQ: LVGO) were up 11.8% as of noon EDT on Thursday. The big jump came after the company announced its first-quarter results following the market close on Wednesday.
Livongo's quarterly revenue rose 115% year over year to $68.8 million, well above analysts' average estimate of $65.8 million. The company also reported adjusted earnings of $3.9 million, or $0.03 per share. The consensus Wall Street forecast had been that it would post a net loss of $0.04 per share.
Beating Wall Street expectations is usually a sure-fire catalyst for a share price boost, and it was this time for Livongo Health. But there are even more reasons to be upbeat about this healthcare stock.
Source Fool.com
