Biogen (BIIB) Tops Q2 EPS by 127c; profit guidance raised

Biogen (NASDAQ: BIIB) reported Q2 EPS of $5.28, $1.27 better than the analyst estimate of $4.01. Revenue for the quarter came in at $2.47 billion versus the consensus estimate of $2.39 billion.

GUIDANCE:

Biogen sees FY2024 EPS of $15.75-$16.25, versus the consensus of $15.58.

Biogen now expects total revenue to decline by a low-single digit percentage (previously low to mid-single percentage), with core pharmaceutical revenue, defined as product revenue plus Biogen's 50% share of net LEQEMBI product revenue and cost of sales, including royalties, to be relatively flat for 2024 compared to 2023 as further declines in multiple sclerosis product revenue are expected to be offset by increases in revenue from new product launches.

For earnings history and earnings-related data on Biogen (BIIB) click here.

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