MADISON, Wis. (AP) _ Exact Sciences Corp. (EXAS) on Tuesday reported a loss of $31.2 million in its first quarter.
The Madison, Wisconsin-based company said it had a loss of 18 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.04 per share.
The molecular diagnostics company posted revenue of $402.1 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $384.8 million.
Exact Sciences expects full-year revenue in the range of $1.69 billion to $1.74 billion.
Exact Sciences shares have decreased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $116.02, an increase of 50% in the last 12 months.