Accuray slashes Q2 losses and ups its earnings expectations for the year, prompting a 13% boost from Wall Street.
California radiation oncology systems maker Accuray (NSDQ:ARAY) scored major Wall Street points with its 2nd quarter financial report, with shares soaring on news of lowered losses and increased guidance for the year.
Accuray’s losses shrank by more than 80% on a 20% boost in sales during the 3 months ended December 31. Per-share earnings beat Wall Street’s consensus estimates by a whopping 12¢. ARAY shares spiked today, trading 13.3% higher to $10.47 as of about 3:30 p.m.