Celgene Earnings: Here’s Why Shares are Up Now
Celgene Corporation (NASDAQ:CELG) 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 up 2.29%.
Celgene Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 24.59% to $1.52 in the quarter versus EPS of $1.22 in the year-earlier quarter.
Revenue: Rose 16.99% to $1.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Celgene Corporation reported adjusted EPS income of $1.52 per share. By that measure, the company beat the mean analyst estimate of $1.44. It beat the average revenue estimate of $1.54 billion.
Quoting Management: “In the second quarter, the Celgene team delivered outstanding results,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “The positive outcome of the MM-020 trial along with other clinical and regulatory milestones met in the quarter represent significant advances for patients worldwide and support our commitment to our long-term growth outlook.”
Key Stats (on next page)…
Revenue increased 9.18% from $1.46 billion in the previous quarter. EPS increased 10.95% from $1.37 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 $1.45 to a profit $1.46. For the current year, the average estimate has moved up from a profit of $5.75 to a profit of $5.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)