IonQ Stock Is Soaring Thursday: What's Going On?

IonQ Inc.‘s (NYSE:IONQ) shares are barreling higher Thursday after the company reported better-than-expected third-quarter results and announced a series of partnerships. Multiple analysts raised price targets following the print, which appears to be adding to the upward momentum. Here’s what you need to know.

What To Know: IonQ reported third-quarter revenue of $12.4 million, beating analyst expectations of $10.56 million. The company posted a loss of 24 cents per share, versus an expected loss of 21 cents per share, according to Benzinga Pro.

Total revenue grew 102% year-over-year, and the company saw $63.5 million in new bookings, bolstered by a $54.5 million contract with the U.S. Air Force Research Lab (AFRL) to enhance quantum hardware for scaling and networking applications.

IonQ also raised its full-year 2024 ...