Exact Sciences Reports Q4 Earnings, Barely Misses Revenue Target
Exact Sciences (NASDAQ: EXAS) reported its fourth-quarter financial results on Tuesday afternoon. While the company still managed to report an impressive revenue increase, the company's net losses excluding tax benefits grew by a fair amount as well.
The company's total revenue came in at $295.6 million, just over double the $124.9 million reported back in Q4 2018. While Exact Sciences reported a profit of $77.9 million for the quarter, it came from a $184.6 million one-time income tax benefit the company reported. Factoring out this tax benefit, the company reported a net loss before tax of $106.7 million, around double the $53.9 million net loss reported last year.
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Source Fool.com
