Myriad Genetics (MYGN) posts better-than-expected results in Q2 with contributions from most product lines.
Myriad (MYGN) delivered earnings and revenue surprises of 100% and 6.67%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
Highlights: Revenue of $179.3 million for the quarter ended June 30, 2022 Excluding revenue from divested businesses, revenue increased 7% year-over-year and 9% sequentially from the first quarter of 2022 Diluted GAAP earnings per share (EPS) of $(0.18) and adjusted EPS of $0.04 in the second quarter of 2022Fiscal year 2022 financial guidance updated to reflect additional $20 million investment in research and development, technology, and sales and marketing programsEnded the quarter with $283.6