Why IonQ Stock Made a Quantum Leap Today
Shares of quantum computing pioneer IonQ (NYSE: IONQ) skyrocketed on Tuesday, boosted by a surprisingly strong earnings report. The stock closed Tuesday's trading 31.1% higher, having climbed consistently all day long.
IonQ's second-quarter revenue landed at $2.6 million, compared with a mere $93,000 in the year-ago quarter. Order bookings rose from $57,000 to $600,000 over the same period. On the bottom line, net losses per share shrank from $0.08 to $0.01. Your average analyst would have settled for losses of roughly $0.10 per share on revenue near $2.4 million.
The company signed several sales agreements and research partnerships during the quarter, including paid computing contracts with airplane maker Airbus and chemistry giant Dow Chemical. These clients hope to gain unique insights from IonQ's quantum-based Aria computer, exploring problems that are difficult to solve with digital computers.
Source Fool.com
