Why 3D Systems Stock Jumped 18% Today
Shares of 3D printing specialist 3D Systems (NYSE: DDD) jumped as much as 18% in early trading on Wednesday after the company announced fourth-quarter 2022 financial results. As of 11:42 a.m. ET, the stock had settled to a 12.2% gain.
It's hard to argue the quarter was good, but it did partially beat Wall Street's expectations. Revenue was down 12% to $132.7 million and the company reported a net loss of $25.6 million, or $0.20 per share. On an adjusted basis, which pulls out one-time items, the loss was $0.06 per share.
Those results aren't great, but analysts had projected an $0.08 loss per share on revenue of $134.3 million, so at least 3D Systems beat estimates on the bottom line.
Source Fool.com
