Biogen Idec Earnings: Here’s Why Investors are Bidding Up Shares
Biogen Idec Inc. (NASDAQ:BIIB) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.1%.
Biogen Idec Inc. Earnings Cheat Sheet
Results: Net income decreased -2.71% to $292.1 million ($1.4 per diluted share) in the quarter versus a net gain of $300.24 million in the year-earlier quarter.
Revenue: Rose 7.03% to $1.42 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Biogen Idec Inc. reported adjusted net income of $1.4 per share. By that measure, the company missed the mean analyst estimate of $1.46. It beat the average revenue estimate of $1.39 billion.