Biogen Idec Third Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Biogen Idec (NASDAQ:BIIB) will unveil its latest earnings tomorrow, Monday, January 28, 2013. Biogen Idec is a global biotechnology company that meets the rising needs of therapeutic care providers and recipients.
Biogen Idec Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.46 per share, a decline of 2.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.64. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.46 during the last month. Analysts are projecting profit to rise by 12% versus last year to $6.54.
Past Earnings Performance: The company is looking to make a streak of three quarters of beating estimates. Last quarter, it beat expectations by reporting net income of $1.90 per share, and the previous quarter, it had profit of $1.82.
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A Look Back: In the second quarter, profit rose 34.3% to $386.8 million ($1.61 a share) from $288 million ($1.18 a share) the year earlier, exceeding analyst expectations. Revenue rose 17.6% to $1.42 billion from $1.21 billion.
Here’s how Biogen Idec traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: