IONQ - Why IonQ Stock Made a Quantum Leap Today
Shares of quantum computing pioneer IonQ (NYSE: IONQ) skyrocketed on Tuesday, boosted by a surprisingly strong earnings report. The stock closed Tuesday's trading 31.1% higher, having climbed consistently all day long.
IonQ's second-quarter revenue landed at $2.6 million, compared with a mere $93,000 in the year-ago quarter. Order bookings rose from $57,000 to $600,000 over the same period. On the bottom line, net losses per share shrank from $0.08 to $0.01. Your average analyst would have settled for losses of roughly $0.10 per share on revenue near $2.4 million.
The company signed several sales agreements and research partnerships during the quarter, including paid computing contracts with airplane maker Airbus and chemistry giant Dow Chemical . These clients hope to gain unique insights from IonQ's quantum-based Aria computer, exploring problems that are difficult to solve with digital computers.
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Why IonQ Stock Made a Quantum Leap Today