Exact Sciences Corp. shares fell in the extended session Thursday even after the cancer diagnostics company’s results topped Wall Street estimates. Exact Sciences shares fell 9% after hours. The company reported a fourth-quarter loss of $21.8 million, or 18 cents a share, compared with a loss of $37.2 million, or 34 cents a share, in the year-ago period. Revenue rose to $87.4 million from $35.2 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 23 cents a share on revenue of $86.7 million. For the year, Exact Sciences estimated revenue of $420 million to $430 million. Analysts expect revenue of $423.4 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News