Biogen Idec Q4 Net Nearly Doubles; Beats Views

Biogen Idec Inc BIIB beat fourth-quarter earnings expectations Thursday and offered a higher-than-expected outlook for 2015 results.

The Cambridge, Massachusetts-based company changed hands in the extended session, up more than 7 percent recently, at $379.90 a share.

Biogen forecast 2015 adjusted earnings of between $16.60 and $17 a share, on revenue growth between 14 percent and 16 percent. Revenue in 2014 grew 40 percent to $9.7 billion.

Wall Street expects adjusted 2015 earnings of $16.37 a share, on revenue of $11.22 billion.

Net income for the recent period nearly doubled to $883.5 million, or $3.74 a share, from $457.3 million, or $1.92 a share a year earlier.

Adjusted income equaled $4.09 a share, while revenue grew 34 percent to $2.6 billion, from $1.97 billion a year earlier.

Wall Street expected adjusted earnings of $3.78 a share on revenue of $2.64 billion.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidance
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...