Movement Alert|10x Genomics, Inc. Rises 5.09% in Regular Trading, Q2 Earnings Beat and Raised Full-Year Guidance Continue to Lift Shares

Market Focus08-10 21:50

On August 10, 10x Genomics, Inc. rose 5.09% in regular trading, trading at $53.98 per share, with turnover of $16.73 million. The stock continues to rally following the release of better-than-expected second quarter results and an upward revision to full-year revenue guidance.

The company reported Q2 EPS loss of $0.14, significantly beating the analyst consensus estimate of a $0.24 loss by 41.67%. Revenue came in at $151.0 million, surpassing the $146.7 million estimate. Additionally, management raised full-year revenue guidance to $610 million-$630 million, up from the prior range of $600 million-$625 million, and above analyst expectations of $613.7 million. While revenue declined 12.7% year-over-year and the company swung to a loss from EPS of $0.28 in the prior-year period, the magnitude of the earnings beat combined with the guidance raise has sustained positive market sentiment and extended the stock's rebound trajectory.

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