Biogen Inc (NASDAQ:BIIB) stock was up on Tuesday following the release of its earnings report for the first quarter of 2017.

Biogen Inc reported earnings per share of $5.20 during the first quarter of the year. This is an increase over its earnings per share of $4.79 from the same time last year. It also came in above Wall Street’s earnings per share estimate of $5.00 for the quarter.

During the first quarter of 2017, Biogen Inc reported revenue of $2.81 billion. This is up from its revenue of $2.72 billion that was reported during the first quarter of 2016. It also beat out analysts’ revenue estimate of $2.74 billion for the first quarter of the year.

Operating income reported by Biogen Inc during the first quarter of the year was $1.02 billion. This is a decrease over its operating income of $1.38 billion from the same period of the year prior.

Biogen Inc reported reported net income of $747.50 million in its first quarter of 2017. The biopharmaceutical company reported net income of $969.20 million in the first quarter of the previous year.

“I am very pleased with the results of the first quarter. We saw continued stability in our MS business, executed a strong launch of SPINRAZA, grew market share for our biosimilars business across Europe, and reinforced the intellectual property for TECFIDERA, “Michel Vounatsos, CEO of Biogen Inc, said in a statement. “Furthermore, we continued to build our neurology pipeline with the anticipated addition of our new Phase 2-ready anti-tau antibody.”

BIIB stock was up 4% as of noon Tuesday.