Nevro shares rise on Q4, FY2016 rev Beat

Shares in Nevro Corp. (NYSE:NVRO) rose today after the medical device maker beat revenue expectations, despite falling short in earnings per share with its 4th quarter earnings results.

The Redwood City, Calif.-based company posted losses of $9.8 million, or 34¢ per share, on sales of $70.5 million for the 3 months ended December 31. That equates to a 30.8% increase in losses while sales grew a massive 112.9% compared with the same period last year.

Earnings per share were well off from the 21¢ consensus on The Street, but revenue came in above consensus, which was $66.8 million.

For the full year, Nevro posted losses of $32.3 million, or $1.12 per share, on sales of $228.5 million. That equates to a 52.3% growth in losses while sales swelled over 228% compared with its 2015 fiscal year.

For the upcoming year, the company said it expects to see worldwide revenue between $310 million and $320 million, according to its official earnings release.

Shares rose 5% to close at $98.97 in response to the positive earnings.

The post Nevro shares rise on Q4, FY2016 rev Beat appeared first on MassDevice.

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