Celgene profit beats estimates as demand for cancer drugs rise
April 25 (Reuters) - Biotechnology firm Celgene Corp reported a first-quarter profit that edged past analysts' estimates on strong demand for its cancer drugs, Revlimid and Abraxane, and it raised its 2013 earnings forecast.
Net income fell to $384.9 million, or 89 cents per share, from $401.5 million, or 90 cents per share, a year earlier.
Excluding one-time items, it earned $1.37 per share. Analysts on average expected a profit of $1.35 per share, according to Thomson Reuters I/B/E/S.
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video