Paycom Software (PAYC) raised its full-year sales outlook Tuesday after second-quarter earnings and revenue easily topped Wall Street targets amid the shift to cloud computing. The cloud-based developer of payroll and human resources software said adjusted Q2 earnings soared 150% to 10 cents per share, beating by 4 cents. Revenue jumped 47% to $49 million, above views for $45.8 million. The Oklahoma City-based company sees Q3 revenue of $51
Shares of top-rated medical firms Regeneron Pharmaceuticals and Abiomed hit new highs in the stock market early Tuesday after both companies beat quarterly earnings estimates and raised guidance. Regeneron (REGN) reported Q2 earnings of $2.89 a share excluding one-time items, up 17% from a year earlier and 12 cents above analysts’ consensus, according to Thomson Reuters. Revenue jumped 50% to $999 million, $11 million more than
Big biotech Gilead Sciences handily beat analysts’ Q2 estimates and raised its full-year guidance Tuesday afternoon, led by sales of its blockbuster hepatitis C drugs. Earnings, excluding one-time items, rose 33.5% over the year-earlier quarter to $3.15 a share, beating analysts’ consensus by 44 cents, according to Thomson Reuters. Revenue climbed 26% to $8.24 billion, some $800 million above the Street’s number. Gilead (GILD) duly