April 25 (Reuters) - Dexcom ( DXCM ) beat Wall Street

expectations for first-quarter profit on Thursday, helped by

strong demand for a new version of its continuous glucose

monitors, but its shares slid 7% after the bell as annual sales

forecast was largely below estimates.

The company and rival Abbott currently dominate the

market for continuous glucose monitors - the devices that track

blood glucose levels every few minutes without the need for

finger stick tests.

Dexcom's ( DXCM ) total revenue rose 24% to $921 million for the

three months ended March 31, beating analysts' average estimate

of $909.24 million, according to LSEG data.

The company raised the lower end of its 2024 revenue

forecast by $50 million, and now expects it to be between $4.20

billion and $4.35 billion. But the midpoint of the new range was

below analysts' estimate of $4.32 billion.

The California-based company's latest continuous glucose

monitor system, G7, was cleared in the United States in 2022.

Its another product, Stelo, was cleared by the U.S. FDA in March

for use without a prescription from a healthcare provider.

Dexcom ( DXCM ) posted adjusted profit of 32 cents per share,

compared with analysts' estimate of 27 cents per share.