Rigetti Computing Inc. (NASDAQ:RGTI) shares are up during Tuesday’s session after the company on Monday reported its first-quarter results.
Rigetti Revenue Tops Estimates In First Quarter
The stock’s movement comes after Rigetti posted a quarterly loss of 4 cents per share, which met consensus estimates, while revenue of $4.4 million exceeded expectations by 10.86%.
The company is continuing to execute its strategy with the launch of its 108-qubit Cepheus-1-108Q system, which is now available on various quantum computing platforms.
“In the first quarter, we continued to execute on our strategy by bringing our 108-qubit Cepheus-1-108Q system into general availability on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid,” said Subodh Kulkarni, Rigetti CEO. “We believe Cepheus-1-108Q is one of the most powerful generally available gate-based quantum computers in the world, and as the largest modular system on the market today, it is an important …