Tandem Diabetes Care Stock Soars on Earnings Beat

Published 1 hours agoTNDM

Tandem Diabetes Care Stock Soars on Earnings Beat

Tandem Diabetes Care Inc. experienced a significant boost in its stock value following the release of its first-quarter 2024 financial results. The company reported an adjusted loss per share of $0.65, which came in better than the expected loss of $0.76. This positive performance was highlighted by a 22% increase in the company's stock price, showcasing strong investor confidence as noted by Fool.com.

The company's revenue reached $192.8 million during the quarter, exceeding the consensus estimate of $174 million. This marks a 12% growth from the previous year. Notably, Tandem's international sales surged by 63%, contributing significantly to its overall revenue increase, according to Investing.com.

Tandem has been focused on expanding its product line, which includes the recent launch of the Tandem Mobi insulin pump integrated with the Dexcom G6 CGM sensor, as well as the t:slim X2 with Abbott FreeStyle Libre 2 Plus CGM sensor. These strategic developments underscore the company's firm foothold in the market and its capability to foster growth through innovation and international expansion.

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