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Investors In 3D Systems Buying The Dip Following Q2 Results

Investors In 3D Systems Buying The Dip Following Q2 Results - 3D Systems Corporation NYSE:DDD

3D Systems Corporation (NYSE: DDD) reported mixed results for the second quarter. While adjusted earnings topped estimates, revenue fell shy. Nevertheless, the stock traded higher in the pre-market after 4.17 percent loss on Tuesday.

The company reported a loss of $0.04 a share for the three-month period, while adjusted earnings would have been $0.12 a share, which was doubled from the analysts' estimations of $0.06 a share.

However, 3D systems' revenue of $158.1 million was below the analysts' predictions of $161.01 million.

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The company indicated its revenue benefited from continued strong demand for its healthcare solutions and software apart from higher materials orders from healthcare and industrial customers. However, these were not enough to offset the weak demand for 3D printers and on demand manufacturing, resulting in a 7 percent drop on a year-over-year basis.

Commenting on the results, CEO Vyomesh Joshi said, "We see clear opportunities for improvements in 3D printers and on demand manufacturing services as we drive operational excellence and focus on providing reliable end-to-end solutions."

Shares of the company traded up by $0.40 or 3.28 percent at $12.58 in the pre-market.

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