DexCom (DXCM) gains 11% on strong results, guidance

DexCom (NASDAQ: DXCM) shares jumped about 11% in after-hours trade after the company reported much better-than-expected third-quarter results.

EPS of $0.50 was better by $0.16 than the analyst estimate of $0.34. Revenue for the quarter came in at $975 million versus the consensus estimate of $939.2 million.

Sensor and other revenue jumped 31% YoY to $873.8 million, easily ahead of analyst expectations.

The company expects to see full-year revenue in the range of $3.58 billion to $3.60 billion, while analysts were looking for $3.54 billion.

“Our teams executed incredibly well in the third quarter, delivering solid financial results while further advancing global access to Dexcom CGM,” said Kevin Sayer, Dexcom’s chairman, president and CEO.

“Our continued momentum has left us in a great position to again raise our full-year revenue and margin guidance and finish a strong 2023.”

The company also announced a $500 million share repurchase program in conjunction with its third quarter results.

By Senad Karaahmetovic

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