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DexCom swings to profit in Q2, raises FY'19 guidance

DexCom Inc. booked non-GAAP net income of $7.8 million, or 8 cents per share, for the second quarter of 2019, compared to a non-GAAP net loss of $6.5 million, or 7 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized estimate for the quarter was one cent per share.

The San Diego, Calif.-based medical device maker's GAAP net loss was $10.5 million, or 12 cents per share, compared to GAAP net income of $30.2 million, or 34 cents per share, the year prior.

DexCom reported $336.4 million in revenue for the quarter, a 39% increase year-over-year from $242.5 million. U.S. revenue was up 40% while international revenue grew by 33%.

Research and development expenses were $69 million, up from $47.2 million a year ago.

DexCom increased its financial guidance for the full year of 2019 and now expects revenue in the range of approximately $1.33 billion to $1.38 billion, or 28% to 33% growth, compared to previous guidance of $1.25 billion to $1.30 billion, or 21% to 26% growth.