Dexcom Stock Plummets on Earnings Miss, Guidance Cut

Shares of Dexcom (DXCM) tumbled complete 40% successful extended trading Thursday aft nan institution reported second-quarter net that missed estimates and slashed its full-year gross guidance.

The shaper of glucose monitors said it now expects integrated gross maturation of 11% to 13%, down from its projection successful April of 17% to 21%.

Dexcom's gross grew 15% year-over-year to $1 billion, astir successful statement pinch analysts' estimates compiled by Visible Alpha. However, nett income of $143.5 cardinal aliases 35 cents per stock missed expectations.

“While Dexcom precocious respective cardinal strategical initiatives successful nan 2nd quarter, our execution did not meet our precocious standards,” CEO Kevin Sayer said successful a release, adding “we are taking action to amended our execution and champion position ourselves for continued semipermanent growth.”

Dexcom shares were down 40.1% astatine $64.50 successful extended trading arsenic of 5:40 p.m. ET Thursday pursuing nan release.