Livongo's Preliminary Results Crush Estimates, Sending the Stock Skyward
Livongo Health (NASDAQ: LVGO) was already one of the rock-star stocks of 2020, having gained more than 200% so far this year. Expectations were understandably high as the digital health management company released its preliminary second-quarter results, but the numbers far exceeded the most robust analyst estimates and smashed management's guidance, sending the stock up an additional 20% on Tuesday.
While the results have yet to be finalized, Livongo is now expecting revenue in a range of $86 million to $87 million, which would represent year-over-year growth of 110% to 113%. To put that into context, management had originally forecast revenue in a range of $73 million to $75 million, or growth of 78% to 83%. Analysts' consensus estimates were banking on revenue growth of 83%.
Image source: Livongo.
Source Fool.com
