Quantum Computing shares surge 36% on Q1 report 📈

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Shares of a company Quantum Computing from the quantum computing and computer science sector are up 36% today after the firm beat net income expectations and reported a significant increase in cash on its balance sheet, effectively buying itself more time to reach full and stable profitability.

Earnings per share came in at 11 cents, beating the consensus estimate of a 7-cent loss.
Revenue totaled $39,000, below expectations ($100,000), but representing a 44.44% year-over-year increase.
Cash and cash equivalents at the end of the quarter stood at $166.4 million, a $87.5 million YoY increase.
Total assets amounted to $242.5 million.
The company announced significant operational and financial progress in the first quarter.
It completed construction of its Quantum Photonic Chip Foundry in Tempe, Arizona.
The facility is intended to meet growing demand for thin-film lithium niobate (TFLN) photonic chips, with the company announcing its fifth order during the period.

QUBT.US shares are still down 50% from their Q4 2024 highs, when the entire quantum sector surged following Google’s comments.

Source: xStation5

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