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Celgene Reports Q2 Earnings Beat, Raises Guidance

Celgene Reports Q2 Earnings Beat, Raises Guidance

Celgene (NASDAQ: CELG) reported second-quarter earnings of $2.86 per share, which beat the analyst consensus estimate of $2.63 by 8.75%. This is a 32.41% increase over earnings of $2.16 per share from the same period last year.

The company reported quarterly sales of $4.4 billion, which beat the analyst consensus estimate of $4.23 billion by 4.02%. This is a 15.36% increase over sales of $3.814 billion the same period last year.

Celgene also raised fiscal year 2019 guidance: adjusted EPS from $10.60-$10.80 to $10.65-$10.85 versus a $10.73 estimate; and sales from $17 billion-$17.2 billion to $17.2 billion-$17.4 billion versus a $17.11 billion estimate.

Celgene shares are trading up 1.09% at $94 in Tuesday’s pre-market session. The stock has a 52-week high of $98.97 and a 52-week low of $58.59.

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