Pacific Biosciences: Q1 Earnings Snapshot
By AP News
Published - May 02, 2023, 04:12 PM ET
Last Updated - Jun 21, 2023, 11:49 PM EDT
MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Pacific Biosciences of California Inc. (PACB) on Tuesday reported a loss of $88 million in its first quarter.
On a per-share basis, the Menlo Park, California-based company said it had a loss of 36 cents. Losses, adjusted for non-recurring costs and amortization costs, were 31 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The maker of genetic analysis technology posted revenue of $38.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $35.2 million.
