Why ShockWave Medical Stock Is Soaring Today
Shares of ShockWave Medical (NASDAQ: SWAV) were soaring 17.9% higher at 11:54 a.m. ET on Tuesday. The big jump came after the company announced its second-quarter results following the market close on Monday.
ShockWave reported Q2 revenue of $120.7 million, up 116% year over year. It posted earnings of $25.6 million, or $0.68 per diluted share. This reflected significant improvement from the net loss of $0.4 million in the prior-year period. Both top- and bottom-line Q2 results handily beat consensus estimates.
In addition, ShockWave raised its full-year revenue guidance. The company now expects 2022 revenue will be between $465 million and $475 million, a 98% year-over-year increase at the midpoint of the range. ShockWave previously forecast full-year revenue of $435 million to $455 million.
Source Fool.com
