Celgene Earnings: Here’s Why Investors are Happy Now

Celgene Corporation (NASDAQ:CELG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.09%.

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Celgene Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 26.85% to $1.37 in the quarter versus EPS of $1.08 in the year-earlier quarter.

Revenue: Rose 15.02% to $1.46 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Celgene Corporation reported adjusted EPS income of $1.37 per share. By that measure, the company beat the mean analyst estimate of $1.35. It missed the average revenue estimate of $1.47 billion.

Quoting Management: “The first quarter delivered remarkable achievements as the result of our clinical, regulatory and commercial efforts,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “With the momentum from these milestones and the opportunities in the rest of the year, we are well-positioned to achieve our goals for 2013 and accelerate our next phase of growth.”

Key Stats (on next page)…

Revenue increased 1.19% from $1.45 billion in the previous quarter. EPS increased 3.79% from $1.32 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.41 to a profit $1.42. For the current year, the average estimate has moved up from a profit of $5.65 to a profit of $5.70 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)