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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Biogen Inc | NASDAQ:BIIB | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 213.51 | 213.95 | 214.48 | 383 | 14:08:21 |
From May 2019 to May 2024
By Allison Prang
Biogen Inc.'s (BIIB) first-quarter earnings rose as the company reported higher revenue and the fair value in the company's investment in a pharmaceutical company rose.
Biogen reported $1.41 billion in net income, up 20% from the comparable quarter a year earlier. The Massachusetts company said earnings were $7.15 a share, up from $5.54 a share. Analysts polled by Refinitiv were expecting $6.20 a share.
Biogen's first-quarter other income was $357 million, which included $376 million in net gains on investments, principally driven by an increase in the fair value of the company's equity investment in Ionis Pharmaceuticals Inc.
Earnings on an adjusted basis were $6.98 a share, up from $6.05 a share. Analysts were expecting $6.87 a share.
Total revenue increased 11% to $3.49 billion. Analysts were expecting $3.4 billion.
Costs and expenses at the company rose 24%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 24, 2019 07:41 ET (11:41 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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