Quantum computing company IonQ (NYSE: IONQ) will be reporting results this Wednesday after market close. Here’s what to look for.

IonQ beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $7.57 million, flat year on year. It was a strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations.

Is IonQ a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting IonQ’s revenue to grow 49.7% year on year to $17.03 million, slowing from the 106% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.14 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. IonQ has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 15.6% on average.

Looking at IonQ’s peers in the it services & other tech segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Xerox posted flat year-on-year revenue, beating analysts’ expectations by 1.6%, and Applied Digital reported a revenue decline of 13%, in line with consensus estimates. Xerox traded down 24.7% following the results while Applied Digital was up 31.3%.

Read our full analysis of Xerox’s results here and Applied Digital’s results here.

Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the it services & other tech stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.1% on average over the last month. IonQ is down 11.5% during the same time and is heading into earnings with an average analyst price target of $49.29 (compared to the current share price of $40.01).

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