Guardant Health Inc. (NASDAQ:GH) saw its stock price surge 5.44% in after-hours trading on Wednesday, following the release of its first-quarter earnings report that significantly exceeded analyst expectations.
The precision oncology company reported a narrower-than-expected loss for Q1, with adjusted earnings per share (EPS) of $(0.49), beating the analyst consensus estimate of $(0.81) by 39.51%. While this still represents a slight decrease from the $(0.46) per share loss in the same period last year, the improvement over expectations has clearly impressed investors.
Guardant Health's revenue performance was equally impressive, coming in at $203.47 million for the quarter. This figure not only surpassed the analyst consensus estimate of $190.16 million by 7.00% but also marked a robust 20.76% increase compared to the $168.49 million reported in the same quarter of the previous year. The strong top-line growth demonstrates the company's continued market penetration and the increasing adoption of its precision oncology tests. Furthermore, Guardant Health provided an optimistic outlook for the full fiscal year, projecting revenue in the range of $880-890 million, which likely contributed to the positive investor sentiment.
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