Dendreon Earnings Show Smaller Loss
Shares of Seattle, Wash.-based Dendreon are cratering, down more than 12% in after-hours trading Thursday after the company reported Q2 2013 earnings results that fell short of analyst expectations on both revenues and earnings.
Dendreon lost $68.8 million in Q2 -- $0.45 per share -- on $73.3 million in revenues. These numbers represented an 8% decline in sales year over year (a bad decline), but a 28% decline in the company's losses (thus, a good decline).
Company CEO John H. Johnson characterized the results as showing "progress" after a "challenging first quarter." Johnson highlighted the company's "solid growth in large accounts where we are focused." Investors, however, appear to be more concerned with the decline in sales overall.
The article Dendreon Earnings Show Smaller Loss originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Dendreon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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