IONQ - IonQ shares surge almost 30% on quantum computer companies sales outlook

Quantum-computing technology company IonQ ( NYSE: IONQ ) saw its shares rocket up by almost 30% Tuesday after it gave an upbeat revenue forecast and showed strong gains in billings from over a year ago.

Late Monday, IonQ ( IONQ ) said that for its fiscal second quarter, it lost a penny a share on $2.6M in revenue. During the same period a year ago, IonQ ( IONQ ) lost 8 cents a share on sales of $93,000.

Bookings during the quarter rose to $600,000 from $57,000 in the second quarter of 2021.

For its third quarter, IonQ ( IONQ ) said it expects revenue to be in a range of $2.6M to $2.9M, and for its full year, the company estimates booking will fall between of $23M and $27M.

Analyst Toshiya Hari, of Goldman Sachs, said IonQ's ( IONQ ) results showed "continued strong interest in quantum computing across potential commercial and public customers." However, Hari maintained his neutral rating on IonQ's ( IONQ ) stock on the grounds that "contracting delays across the technology sector could lead to 2022 bookings coming in below expectations."

Volume in IonQ ( IONQ ) shares was far higher than usual, with more than 12M of its shares exchanged in early trading Tuesday. IonQ ( IONQ ) averages 4.7M shares traded on a daily basis.

Earlier this summer, IonQ ( IONQ ) announced an expansion of its operations into Europe and Israel.

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