Invitae (NVTA) Reports Q1 Loss, Tops Revenue Estimates

By Zacks10 days ago

Invitae (NVTA) came out with a quarterly loss of $0.63 per share versus the Zacks Consensus Estimate of a loss of $0.60. This compares to loss of $0.80 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -5%. A quarter ago, it was expected that this genetic testing company would post a loss of $0.58 per share when it actually produced a loss of $0.63, delivering a surprise of -8.62%.

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Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Invitae, which belongs to the Zacks Medical Info Systems industry, posted revenues of $103.62 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 1.58%. This compares to year-ago revenues of $64.25 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

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