Why Guardant Health Stock Is Crashing Today
Shares of Guardant Health (NASDAQ: GH) were trading 23.4% lower as of 11:51 a.m. ET on Friday. The steep decline came after the company announced its first-quarter results following the market close on Thursday.
The medical testing specialist reported Q1 revenue of $96.1 million, up 22% year over year. This result was in line with Wall Street estimates. It posted a Q1 net loss of $123.2 million, or $1.21 per share, based on generally accepted accounting principles (GAAP). This result was worse than its GAAP net loss of $1.09 per share in the prior-year period. However, it too was in line with analysts' consensus estimate.
Guardant Health also reaffirmed its guidance for 2022. The company still expects revenue in the range of $460 million to $470 million. At the midpoint, that would amount to an increase of 24.5% from 2021.
Source Fool.com
