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Pacific Biosciences: 3Q Earnings Snapshot

·1 min read

MENLO PARK, Calif. (AP) _ Pacific Biosciences of California Inc. (PACB) on Monday reported a loss of $23.7 million in its third quarter.

The Menlo Park, California-based company said it had a loss of 14 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 14 cents per share.

The maker of genetic analysis technology posted revenue of $19.1 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $20.4 million.

Pacific Biosciences shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.31, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PACB at https://www.zacks.com/ap/PACB