Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.73%.
Arena Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.18 in the quarter versus EPS of $-0.12 in the year-earlier quarter.
Revenue: Rose 213.47% to $68.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arena Pharmaceuticals, Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.15. It beat the average revenue estimate of $57.31 million.
Quoting Management: “We are very encouraged by the positive response from patients and physicians since BELVIQ became available in US pharmacies on June 11,” said Jack Lief, Arena’s President and Chief Executive Officer. “While it is still early in the launch, the progress made to date reinforces the significant opportunity we see for BELVIQ in the medical management of overweight and obese patients.”
Key Stats (on next page)…
Revenue increased 2807.17% from $2.37 million in the previous quarter. EPS increased to $0.18 in the quarter versus EPS of $-0.09 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.07 and has not changed. For the current year, the average estimate has moved up from a loss of $0.13 to a loss of $0.10 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)