Compared to Estimates, CareDx (CDNA) Q2 Earnings: A Look at Key Metrics
CareDx (CDNA) reported $70.3 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 12.8%. EPS of -$0.18 for the same period compares to -$0.13 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $56.4 million, representing a surprise of +24.65%. The company delivered an EPS surprise of +57.14%, with the consensus EPS estimate being -$0.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CareDx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Patient and digital solutions revenue: $9.01 million versus $8.22 million estimated by two analysts on average.
Testing services revenue: $53.41 million versus the two-analyst average estimate of $55.52 million. The reported number represents a year-over-year change of -20.4%.
Product revenue: $7.88 million versus the two-analyst average estimate of $7.44 million. The reported number represents a year-over-year change of +17.3%.
View all Key Company Metrics for CareDx here>>>
Shares of CareDx have returned +6.8% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CareDx, Inc. (CDNA) : Free Stock Analysis Report
