The company reported third-quarter revenue of $1.34 billion, edging past the $1.33 billion consensus forecast from FactSet analysts. Domestic sales served as the primary engine for this growth, rising 14% compared to a 5% increase in international markets. Adjusted per-share earnings reached 73 cents, significantly outpacing the projected 67 cents.
In section Market Quotes
DexCom Targets $1 Billion Buyback as Quarterly Revenue Surges
A 72-cent per-share profit and an 11% revenue climb prompted DexCom to authorize a $1 billion share-buyback program this quarter. The glucose monitor manufacturer outperformed Wall Street expectations, shifting its annual sales guidance to a tighter range of $5.2 billion to $5.25 billion following robust U.S. demand.
Despite the profit dipping slightly to $275.1 million from the previous year’s $283.8 million, the decision to initiate a buyback program signals confidence in the firm's cash position. DexCom’s revised full-year outlook narrows the lower end of its revenue target, cementing the company’s current trajectory in the medical technology sector.
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