SAN DIEGO (AP) — SAN DIEGO (AP) — QuidelOrtho Corporation (QDEL) on Wednesday reported a loss of $1.71 billion in its first quarter.
On a per-share basis, the San Diego-based company said it had a loss of $25.50. Earnings, adjusted for one-time gains and costs, were 44 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The medical diagnostics company posted revenue of $711 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $697.3 million.
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