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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.
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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.