For the quarter ended March 2024, Pacific Biosciences of California (PACB Quick QuotePACB - Free Report) reported revenue of $38.81 million, down 0.2% over the same period last year. EPS came in at -$0.26, compared to -$0.31 in the year-ago quarter.

The reported revenue represents a surprise of +0.08% over the Zacks Consensus Estimate of $38.78 million. With the consensus EPS estimate being -$0.26, the company has not delivered EPS surprise.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Pacific Biosciences performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Product- Instrument: $19 million versus the three-analyst average estimate of $27.24 million.
• Revenue- Service and other: $3.80 million compared to the $3.84 million average estimate based on three analysts. The reported number represents a change of -10.5% year over year.
• Revenue- Product: $35.01 million versus the three-analyst average estimate of $46.37 million. The reported number represents a year-over-year change of +1%.
• Revenue- Product- Consumable: $16 million versus the three-analyst average estimate of $19.13 million.

View all Key Company Metrics for Pacific Biosciences here>>>

Shares of Pacific Biosciences have returned -49.6% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.