Dexcom shares plummet more than 30% after company lowers fiscal year guidance

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Dexcom shares plummet more than 30% after company lowers fiscal year guidance

The Dexcom logo is seen on a smartphone screen and in the background.

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images

Shares of Dexcom tumbled more than 33% in after-hours trading Thursday after the diabetes management company reported disappointing revenue for the

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and offered weak guidance.

Here’s how the company did:

• Earnings per share: 43 cents adjusted vs. 39 cents expected by LSEG
• Revenue: $1 billion vs. $1.04 billion expected by LSEG

Dexcom’s revenue increased 15% from $871.3 million a year earlier, according to a release. The company reported a net income of 143.5 million, up from the $115.9 million it reported during the same ******* last year.

“While Dexcom advanced several key strategic initiatives in the second quarter, our ********** did not meet our high standards,” Dexcom CEO Kevin Sayer said in the release. “We have a unique opportunity to serve millions of more customers around the world with our differentiated product portfolio and we are taking action to improve our ********** and best position ourselves for continued long-term growth.”

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