Why Ginkgo Bioworks Stock Is Jumping Today
Shares of Ginkgo Bioworks (NYSE: DNA) were jumping 18.2% higher as of 10:58 a.m. ET. The nice gain came after the company announced its 2021 fourth-quarter and full-year results.
Ginkgo reported total revenue in the fourth quarter of $148 million, a 363% year-over-year increase. The consensus Wall Street estimate was for Q4 revenue of $83.8 million. The company posted a net loss in the fourth quarter of $1.6 billion, or $1.10 per diluted share. The average analysts' estimate was for a net loss of $0.04 per share.
The cell programming company also provided revenue guidance for full-year 2022 of between $325 million and $340 million. The midpoint of this range reflects an increase of nearly 6% year over year. It's also well above the consensus estimate of $305.8 million.
Source Fool.com
