STAAR Surgical Posts Q3 Earnings Above Estimates and Last Year

In a recent report, STAAR Surgical Company announced third-quarter earnings significantly increased compared to last year, exceeding Wall Street forecasts. The earnings growth is driven by a notable rise in revenue, indicating positive business momentum.

Date: 31-10-2024

AI Rating: 8

According to the report, STAAR Surgical Company (STAA) demonstrated impressive financial performance in the third quarter, with a marked increase in earnings and revenue compared to the previous year. The earnings were reported at $10.0 million, translating to $0.20 per share, which not only represents a substantial improvement from $4.8 million or $0.10 per share last year, but also exceeds analysts' average expectations of $0.17 per share.

The company also saw its revenue climb by 10.3%, reaching $88.6 million compared to $80.3 million during the same quarter last year. This revenue growth is a positive indicator of STAAR's market performance and demand for its products.

Furthermore, the guidance for next quarter sets expected revenue between $340 million and $345 million, suggesting continued growth and optimistic projections ahead.

In summary, the increase in both earnings and revenue, along with a positive guidance outlook, indicates strong underlying performance and growth potential for STAAR Surgical Company.

Stocks: STAA