DXCM - Why DexCom Stock Is Crashing Today
2024-07-26 10:42:11 ET
Shares of DexCom (NASDAQ: DXCM) were crashing 39.9% lower as of 10:20 a.m. ET on Friday. The huge sell-off came after the continuous glucose monitoring (CGM) systems maker announced its second-quarter results following the market close on Thursday.
DexCom's revenue increased 15% year over year in Q2 to $1 billion. However, that came in a little below the average revenue estimate of $1.04 billion based on LSEG 's survey of analysts.
The company posted Q2 earnings of $143.5 million, or $0.35 per share, based on generally accepted accounting principles (GAAP) . Its non-GAAP earnings came in at $174.3 million, or $0.43 per share. This reflected solid year-over-year growth and beat the consensus Wall Street adjusted earnings estimate of $0.39 per share.
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Why DexCom Stock Is Crashing Today