Dexcom cuts guidance as Q2 revenue falls short of estimates; shares slump
Investing.com -- Dexcom cut its guidance Thursday after reporting second-quarter revenue fell short of estimates as the diabetes management flagged weaker execution of key strategies.
DexCom Inc (NASDAQ:DXCM) fell more than 34% in aftermarket hours following the report.
The company now expects revenue of approximately $4.00B to $4.05B, down from prior guidance of $4.20B to $4.35B.
"While Dexcom advanced several key strategic initiatives in the second quarter, our execution did not meet our high standards," the company said
The company reported Q2 earnings $0.43 per share on revenue of $1.00 billion, compared with estimates of $0.39 on revenue of $1.04B.
For Q3, revenue was guided in a range of $ $975M to $1.00B, missing analyst estimates of $1.15B.
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