DexCom stock drops 17% after company’s Q2 miss

DexCom Inc.
DXCM,
+1.39%
shares fell nearly 17% in the extended session Thursday after the maker of glucose monitoring systems missed analyst expectations for its first quarter and tweaked higher its 2022 revenue outlook. DexCom said it earned $51 million, or 12 cents a share, in the second quarter, compared with $78.4 million, or 19 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 17 cents a share. Revenue rose 17% to $696.2 million, the company said. FactSet consensus called for EPS of 19 cents a share on sales of $698.6 million. DexCom said it updated its revenue guidance for the year to between $2.86 billion and $2.91 billion, which would represent growth between 17% and 19%. In April, the company guided for 2022 revenue between $2.82 billion and $2.94 billion. Shares of DexCom ended the regular trading day up 1.4%.