Cytek Biosciences reports Q2 EPS (8c), consensus (3c)

Reports Q2 revenue $46.6M, consensus $49.53…”In the second quarter of 2024, we posted strong year over year double-digit revenue growth in EMEA and APAC as well as in our service business worldwide as compared to the second quarter of 2023. However, this performance was offset by a decline in our U.S. instrument sales, particularly among academic and government customers,” said Dr. Wenbin Jiang, CEO of Cytek Biosciences. “Despite the headwinds in the U.S. market, we believe the fundamental drivers of long-term growth remain in place, and the underlying opportunity for our products remains strong. We remain focused on executing our business strategy and delivering durable growth and profitability and strong value to our customers and shareholders.”