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$CLVS Q3 loss but improved revenues for Clovis Oncology

NASDAQ:CLVS   CLOVIS ONCOLOGY INC
Clovis Oncology ( CLVS ) came out with a quarterly loss of $1.89 per share versus the Zacks Consensus Estimate of a loss of $1.92. This compares to loss of $1.71 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1.56%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $1.70 per share when it actually produced a loss of $2.27, delivering a surprise of -33.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Clovis, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $37.60 million for the quarter ended September 2019, surpassing the Zacks Consensus Estimate by 3.56%. This compares to year-ago revenues of $22.76 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Clovis shares have lost about 80% since the beginning of the year versus the S&P 500's gain of 22.7%.
Source Yahoofinamce
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