Biogen Q4 Results Top Estimates; Guides FY25 In Line With Estimates

(RTTNews) - Biotechnology company Biogen, Inc. (BIIB) reported Wednesday that net income attributable to the company for the fourth quarter grew to $266.8 million or $1.83 per share from $249.7 million or $1.71 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $3.44 per share, compared to $2.95 per share in the year-ago quarter.

On average, 26 analysts polled expected the company to report earnings of $3.36 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 2.9 percent to $2.46 billion from $2.39 billion in the same quarter last year. Revenues were up 2.4 percent in constant currency. Analysts expected revenues of $2.42 billion for the quarter.

Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $15.25 to $16.25 per share on a revenue decline in the mid-single digits at constant currency as further declines in multiple sclerosis product revenue are expected to be partially offset by increases in revenue from product launches..

The Street is looking for earnings of $16.24 per share on a revenue decline of 2.31 percent to $9.42 billion for the year.

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