DexCom (NASDAQ:DXCM) reported better-than-expected third-quarter earnings, but a sharp deceleration in revenue growth sent its shares falling 2%. The maker of continuous glucose monitoring systems posted adjusted earnings per share of $0.45, edging past the Street consensus of $0.43. Revenue came in at $994.2 million, slightly surpassing estimates of $990.44 million and representing a modest 2% year-over-year increase.
While DexCom’s results exceeded earnings projections, the slower revenue growth marked a significant departure from previous quarters and likely contributed to the market’s negative response. In the U.S., revenue dipped by 2% year-over-year, while international sales provided a brighter spot with 12% growth.
DexCom reaffirmed its full-year 2024 revenue guidance, projecting between $4.00 billion and $4.05 billion in revenue, compared to the Street expectations of $4.01 billion and reflecting 11-13% organic growth.