Biogen earnings for the third quarter of 2018 are now up.
Here are some highlights from the most recent earnings report from Biogen (NASDAQ:BIIB).
- Biogen earnings begin with earnings per share of $7.40.
- This is better than the company’s earnings per share of $6.31 from the third quarter of 2017.
- It also comes in above Wall Streets’ earnings per share estimate of $6.78 for the period.
- Biogen earnings for the third quarter of 2018 also includes revenue of $3.44 billion.
- This is an increase over its revenue of $3.08 billion reported in the same period of the year prior.
- It also beats out analysts’ revenue estimate of $3.33 billion for the quarter.
- Net income reported by Biogen for the third quarter of the year came in at $1.44 billion.
- The biotechnology company reported net income of $1.23 billion in the third quarter of the previous year.
- There was also operating income of $1.70 billion reported in the Biogen earnings report for the third quarter of 2018.
- Operating income reported by the company during the same time last year was $1.65 billion.
Despite the positive Biogen earnings report for the third quarter of 2018, BIIB stock wasn’t taking off today. This appears to be due to the release of results from a recent clinical trial. This clinical trial was for the drug dapirolizumab pegol.
The clinical trial sought to test treating “adults with moderately-to-severely active systemic lupus erythematosus (SLE) despite receiving standard-of-care treatment such as corticosteroids, anti-malarials and non-biological immunosuppressants.” It did not meet its primary endpoint.
BIIB stock was down slightly as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
