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Compared to Estimates, Guardant Health (GH) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Guardant Health (GH - Free Report) reported revenue of $168.49 million, up 30.9% over the same period last year. EPS came in at -$0.46, compared to -$1.30 in the year-ago quarter.
The reported revenue represents a surprise of +11.94% over the Zacks Consensus Estimate of $150.51 million. With the consensus EPS estimate being -$0.72, the EPS surprise was +36.11%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Guardant Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total tests performed (clinical & biopharmaceutical customers): 55,350 compared to the 55,493 average estimate based on three analysts.
Revenue- Development services and other: $12.26 million versus $12.21 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
Revenue- Precision oncology testing: $156.23 million versus $138.65 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +37.8% change.
Shares of Guardant Health have returned -2.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Guardant Health (GH) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Guardant Health (GH - Free Report) reported revenue of $168.49 million, up 30.9% over the same period last year. EPS came in at -$0.46, compared to -$1.30 in the year-ago quarter.
The reported revenue represents a surprise of +11.94% over the Zacks Consensus Estimate of $150.51 million. With the consensus EPS estimate being -$0.72, the EPS surprise was +36.11%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Guardant Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total tests performed (clinical & biopharmaceutical customers): 55,350 compared to the 55,493 average estimate based on three analysts.
- Revenue- Development services and other: $12.26 million versus $12.21 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
- Revenue- Precision oncology testing: $156.23 million versus $138.65 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +37.8% change.
View all Key Company Metrics for Guardant Health here>>>Shares of Guardant Health have returned -2.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.