IonQ (IONQ) Stock: Why It Surged 45.06%

By Amit Chowdhry ● Aug 17, 2022
  • The stock price of IonQ (IONQ) surged by 45.06% in the previous trading session. This is why.

The stock price of IonQ (IONQ) surged by 45.06% in the previous trading session. Investors are responding to the company’s second quarter results.

IonQ had reported a Q2 EPS of ($0.01), which was $0.09 higher than analyst estimates of ($0.10). And the revenue for the quarter was $2.6 million compared to the consensus estimate of $2.39 million.

KEY QUOTE:

“We are thrilled to share the progress we made in the second quarter. I am excited to announce that we are bringing to the cloud a computer that is over 130,000 times more computationally powerful than our previous cloud offering, as defined by the useful computational space. IonQ Aria has achieved a record-breaking 23 algorithmic qubits, representing an 8x increase in Aria’s power and further cementing its lead as the most powerful known quantum computer in the world.”

— Peter Chapman, President and CEO of IonQ