Biogen Idec Q4 Net Nearly Doubles; Beats Views
Biogen Idec Inc (NASDAQ: BIIB) beat fourth-quarter earnings expectations Thursday and offered a higher-than-expected outlook for 2015 results.
The Cambridge, Massachusetts-based company changed hands in the extended session, up more than 7 percent recently, at $379.90 a share.
Biogen forecast 2015 adjusted earnings of between $16.60 and $17 a share, on revenue growth between 14 percent and 16 percent. Revenue in 2014 grew 40 percent to $9.7 billion.
Wall Street expects adjusted 2015 earnings of $16.37 a share, on revenue of $11.22 billion.
Net income for the recent period nearly doubled to $883.5 million, or $3.74 a share, from $457.3 million, or $1.92 a share a year earlier.
Adjusted income equaled $4.09 a share, while revenue grew 34 percent to $2.6 billion, from $1.97 billion a year earlier.
Wall Street expected adjusted earnings of $3.78 a share on revenue of $2.64 billion.
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