Why DexCom Stock Is Rising After Hours

DexCom Inc DXCM shares are trading higher in Thursday's after-hours session after the company reported better-than-expected financial results.

DexCom said third-quarter revenue increased 18% year-over-year to $769.6 million, which beat average analyst estimates of $751.71 million, according to Benzinga Pro. U.S. revenue jumped 17% year-over-year, while international revenue increased 22%. 

DexCom reported quarterly earnings of 28 cents per share, which beat average estimates of 24 cents per share. The company said it ended the quarter with $2.37 billion in cash and equivalents. 

"With the international roll-out of G7, strong momentum in our US business, and ongoing efforts to broaden global access, we are well positioned for a strong conclusion to the year," said Kevin Sayer, chairman, president, and CEO of DexCom.

DexCom expects full-year revenue to be between $2.88 billion and $2.91 billion versus average analyst estimates of $2.89 billion.

DexCom empowers people to take control of diabetes through innovative continuous glucose monitoring systems.

See Also: Why Gilead Sciences Stock Is Rising After Hours

DXCM Price Action: DexCom has a 52-week high of $164.86 and a 52-week low of $66.89.

The stock was up 8.69% in after-hours at $110.05 at the time of publication. 

Photo: Lorenzo Cafaro from Pixabay.