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IonQ Inc (NYSE:IONQ) reported first-quarter financial results after the market close on Wednesday. Here’s a look at the key details from the print.
- IonQ shares are powering higher. What’s fueling IONQ momentum?
IonQ Exceeds Estimates In Q1
IonQ reported first-quarter revenue of $64.67 million, beating analyst estimates of $49.73 million. The quantum company posted a first-quarter adjusted loss of 34 cents per share, beating estimates for a loss of 35 cents per share, according to Benzinga Pro.
Total revenue was up 755% on a year-over-year basis, driven by accelerating global system sales, strong Tempo demand, a strengthening pipeline and increasing cloud utilization.
IonQ ended the quarter with $3.1 billion …
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