MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Pacific Biosciences of California Inc. (PACB) on Thursday reported a loss of $60.7 million in its third quarter.
The Menlo Park, California-based company said it had a loss of 22 cents per share. Losses, adjusted for non-recurring costs, came to 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The maker of genetic analysis technology posted revenue of $40 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $41.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PACB at https://www.zacks.com/ap/PACB
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