Stock Track | Pacific Biosciences Plummets 5.34% on Preliminary Q4 Sales Miss

Stock Track01-16

Pacific Biosciences of California, Inc. (PACB) saw its stock plummet 5.34% in intraday trading on Wednesday, following the release of its preliminary fourth-quarter results for 2024. The company's revenue for the quarter missed market expectations, sending shares tumbling.

According to the preliminary results, PACB reported revenues of $39.2 million for the fourth quarter, marking a 33% year-over-year decline and falling short of the Zacks Consensus Estimate of $40.9 million. While consumable revenues were relatively stable at $18.8 million, instrument revenues plunged 56.4% to $15.3 million, reflecting weaker demand for its sequencing systems.

Despite the disappointing top-line performance, PACB made notable progress in product innovation and market expansion during the quarter. The company launched its SPRQ chemistry, enabling HiFi genome sequencing on the Revio system, and commenced shipments of the Vega benchtop sequencing system ahead of schedule. In total, PACB shipped 23 Revio and 7 Vega systems in the fourth quarter, aiming to capture a larger share of the benchtop sequencing market.

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(PACB) saw its stock plummet 5.34% in intraday trading on Wednesday, following the release of its preliminary fourth-quarter results for 2024. The company's ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"1117030248","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1117030248","pubTimestamp":1736960200,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Pacific Biosciences of California, Inc.  saw its stock plummet 5.34% in intraday trading on Wednesday, following the release of its preliminary fourth-quarter results for 2024. 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