Incyte Earnings: Here’s Why Investors are Happy Now
Incyte Corporation (NASDAQ:INCY) 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 3.06%.
Incyte Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.14 in the quarter versus EPS of $-0.44 in the year-earlier quarter.
Revenue: Rose 294.08% to $113.85 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Incyte Corporation reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It beat the average revenue estimate of $92.03 million.
Quoting Management: “We are very pleased with our quarter over quarter growth in underlying demand, which was 17 percent,” stated Jim Daly, Incyte’s Executive Vice President and Chief Commercial Officer. “Given the solid foundation we’ve established for Jakafi, I’m confident that we’ll continue to see consistent growth over the next several years and have set net product revenue guidance for 2013 in the range of $210 million to $225 million.”
Key Stats (on next page)…