FX.co ★ Adaptive Biotechnologies Q1 Loss decreases, beats estimates

Adaptive Biotechnologies (ADPT) announced a reduced loss for the first quarter compared to the previous year, exceeding analyst's predictions.

The company registered losses of $47.5 million, equivalent to -$0.33 per share, which is an improvement from last year's first quarter, when losses reached $57.7 million or -$0.40 per share.

On average, analysts expected the company to record a loss of $0.34 per share, based on data gathered by Thomson Reuters. These estimates typically don't take into consideration extraordinary items.

In terms of revenue, the biotech company enjoyed an 11.4% increase for the quarter, hitting $41.9 million compared to $37.6 million during the same period last year.

To summarize, Adaptive Biotechnologies's financial performance for the first quarter is (in accordance with GAAP):

- Earnings: -$47.5 million, an improvement from -$57.7 million in the previous year.

- Earnings per Share (EPS): -$0.33, up from -$0.40 last year.

- Revenue: $41.9 million, an increase from $37.6 million last year.