Benzinga | Nov 16, 2021 03:31PM EST

Why IonQ Shares Are Soaring Today

IonQ Inc (NYSE:IONQ) is trading significantly higher Tuesday after the company announced its third-quarter financial results and raised full-year 2021 bookings guidance.

IonQ reported a quarterly earnings loss of 12 cents per share, which came in below the estimate for a loss of 7 cents per share. The company reported quarterly revenue of $233,000, which came in below the estimate of $250,000.

IonQ raised its full-year bookings guidance from $15 million to $15.8 million.

"IonQ delivered a number of significant milestones this quarter, delivering upon our technology roadmap and accelerating the commercialization of our quantum computers," said Peter Chapman, president and CEO of IonQ.

"We look forward to 2022 with confidence as we continue to build out IonQ's ecosystem, demonstrate our superior scalability and efficiency, and solve useful problems for our worldwide customer base," Chapman said.

IonQ is a leader in quantum computing, with a track record of innovation and deployment.

IonQ is the only maker of quantum hardware that is available through every major cloud provider in the United States, which includes Amazon.com Inc's (NASDAQ:AMZN) Amazon Web Services, Microsoft Corp's (NASDAQ:MSFT) Azure and Alphabet Inc's (NASDAQ:GOOGL) (NASDAQ:GOOG) Google Cloud.

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IONQ Price Action: IonQ is making new all-time highs during Tuesday's session.

The stock was up 29.80% at $25.72 at time of publication.