IONQ - Why IonQ Stock Popped Today
2023-08-11 15:46:11 ET
Shares of IonQ (NYSE: IONQ) were up 17.1% as of 10:30 a.m. ET Friday, according to data provided by S&P Global Market Intelligence , after the quantum computing specialist announced strong second-quarter results and raised its full-year bookings outlook.
Quarterly revenue climbed 111% year over year to $5.5 million, well above the high end of its guidance range of $4.1 million to $4.5 million provided in May. That translated to a net loss of $43.7 million, or $0.22 per share, under generally accepted accounting principles ( GAAP ). Adjusted for a $15.5 million noncash loss related to a change in fair value of warrant liabilities, IonQ's net loss would have been closer $0.14 per share.
Analysts on average were expecting a slightly narrower net loss of $0.13 per share on revenue of $4.9 million.
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Why IonQ Stock Popped Today