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MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Pacific Biosciences of California Inc. (PACB) on Tuesday reported a loss of $88 million in its first quarter.
On a per-share basis, the Menlo Park, California-based company said it had a loss of 36 cents. Losses, adjusted for non-recurring costs and amortization costs, were 31 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The maker of genetic analysis technology posted revenue of $38.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $35.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PACB">Zacks stock report on PACB at https://www.zacks.com/ap/PACB