D-Wave Quantum Inc. (NASDAQ:QBTS) shares are trading lower Thursday morning as second-quarter revenue and earnings fall short of Wall Street estimates despite surging long-term bookings.
D-Wave Quantum stock is showing downward bias. What should traders watch with QBTS?
Q2 Earnings and Revenue Fall Short of Wall Street Projections
The quantum computing firm posted a net loss of 13 cents per share for the quarter ended June 30, falling short of the consensus estimate of 10 cent loss per share. Quarterly revenue remained essentially flat year-over-year at $3.1 million, missing Wall Street projections of $4.03 million.
Operating expenses rose significantly to $55.0 million, up 93% from $28.5 million in the prior-year period, driven by investments in product development and go-to-market strategies.
