Stock Track | Standard BioTools Soars on Strong Q3 Results and Bright Outlook

Stock Track11-01

Shares of Standard BioTools Inc. (NASDAQ:LAB) surged 5.61% on Thursday morning, following the release of the company's impressive third-quarter 2024 financial results and positive future guidance.

The biopharmaceutical company reported a 77% year-over-year increase in revenue to $45.0 million for the third quarter, exceeding analysts' expectations by a significant margin of 9.7%. While the net loss widened by 28% compared to the same period last year, Standard BioTools' earnings per share of $0.073 loss beat analyst estimates by a robust 26%.

Looking ahead, the company's revenue is forecasted to grow at an average annual rate of 15% over the next three years, outpacing the projected 6.5% growth rate for the broader Life Sciences industry in the United States. This optimistic outlook, combined with the company's strong top-line growth and better-than-expected earnings, appears to have fueled investor confidence and driven the substantial stock price rally.

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(NASDAQ:LAB) surged 5.61% on Thursday morning, following the release of the company's impressive third-quarter 2024 financial results and positive future guidance.\nThe...</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":"LAB","symbol_name":"Standard BioTools Inc.","start_time":0,"source_url":"","article_id":"1107022441","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1107022441","pubTimestamp":1730468414,"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":"Shares of Standard BioTools Inc.  surged 5.61% on Thursday morning, following the release of the company's impressive third-quarter 2024 financial results and positive future guidance.The biopharmaceutical company reported a 77% year-over-year increase in revenue to $45.0 million for the third quarter, exceeding analysts' expectations by a significant margin of 9.7%. 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