This program estimates Quidel Revenue based on Covid-19 Cases

Highlights: 

• The model performed better than the analyst consensus  
• The program took in quarterly financial and 3rd party COVID-19 data and used linear regression to estimate the relationship between Quidel revenue and new Covid cases. 
• For every new covid case, Quidel's Revenues rise by $41.50 on average, all else equal. 
• Without any COVID-19 cases, Quidel's revenues are estimated to be about $131 million per quarter.

Disclaimer: None of the following is financial advice. It is solely for education and entertainment purposes. 

During FY21 Q4, there were 11,250,308 new covid cases. Using this information, the model predicted that revenue for Q4 2021 would be $598 million. The model also predicted that Quidel's revenues without COVID-19-related products are estimated to be $131 million per quarter while controlling for other factors.

These findings are in line with Quidel's FY21 Q4 preliminary revenue announcement.

According to the release, Quidel's revenues during Q4 2022 were $636 million, $511 million of which were related to Covid-19. Non COVID-19 related revenues in Q4 amounted to about $125 million. 

The model predicted the total revenue amount within $38 million, or 6% of total revenue, and was more accurate than Wall Street estimates. Zack's consensus estimate for Q4 revenue was only $430 million.

See the original code on my GitHub page

https://ir.quidel.com/news/news-release-details/2022/Quidel-Announces-Preliminary-Revenue-for-Fourth-Quarter-2021/default.aspx

https://www.zacks.com/stock/news/1850349/quidel-corporation-qdel-reports-solid-preliminary-q4-revenues