On Thursday, Abiomed (NASDAQ: ABMD) announced its results for its third quarter, delivering a major beat on its bottom-line estimates. The market was expecting $1.09 a share in earnings, but got $1.51 a share instead. Profits were up 57% from a year ago.
However, Wall Street was apparently unhappy about the revenue number. The company's original forecast for the quarter was $226.7 million in sales, but it revised that estimate downward on Jan. 13, to $222 million. On Thursday, it reported revenues of $221.6 million. The stock immediately dropped 9% on the news. However, buyers rushed in and drove the stock price back up. As of 1:45 p.m. EST, shares were only trading about 0.5% lower for the day.
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