Celgene misses sales forecasts but beats on earnings
US biotech firm Celgene (Nasdaq: CELG) posted revenue of $2.08 billion for the first quarter of 2015, up 20%, which missed the forecasts of nine analysts surveyed by Zacks Investment Research, who expected $2.12 billion. Shares of Celgene have dropped 3.9% to $108.74 this morning.
Net product sales of $2,055 million for the first quarter saw a negative net impact of currency of 2%. Adjusted net income increased 26% to $891 million. For the same period, adjusted diluted earnings per share (EPS) increased 29% to $1.07 from $0.83, on a stock split-adjusted basis, beating the average estimate of 12 analysts surveyed by Zacks was for earnings of $1.06 per share.
Net product sales performance
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