Exelixis, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Exelixis, Inc. (EXEL) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $159.62 million, or $0.55 per share. This compares with $37.32 million, or $0.12 per share, last year.

Excluding items, Exelixis, Inc. reported adjusted earnings of $179.55 million or $0.62 per share for the period.

Analysts on average had expected the company to earn $0.44 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 30.6% to $555.45 million from $425.23 million last year.

Exelixis, Inc. earnings at a glance (GAAP) :

-Earnings: $159.62 Mln. vs. $37.32 Mln. last year. -EPS: $0.55 vs. $0.12 last year. -Revenue: $555.45 Mln vs. $425.23 Mln last year.

-Guidance: Full year revenue guidance: $2.25 - $2.35 Bln