Biogen 4th-qtr beats expectations

29 January 2019

US biotech Biogen (Nasdaq: BIIB) today posted full-year and fourth-quarter financial results for 2018. Full year total revenues were $13.5 billion, a 10% increase versus the prior year.

Full year GAAP net income and diluted earnings per share (EPS) attributable to Biogen Inc. were $4.4 billion and $21.58, respectively, compared to $2.5 billion and $11.92, respectively, in the prior year.

For the fourth-quarter, total revenue increased 6.6% to $3.53 billion, exceeding consensus estimates of $3.40 billion. Net income attributable to Biogen was $946.8 million, or $4.73 per share, for the three months, compared with a net loss of $297.4 million, or $1.40 per share, a year earlier. Adjusted EPS was $6.99 a share, beating the FactSet consensus of $6.73 a share.

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