Reuters logo
Biogen profit beats estimates, helped by lower taxes
April 25, 2013 / 11:12 AM / 4 years ago

Biogen profit beats estimates, helped by lower taxes

The company's name is displayed on a billboard near the headquarters of Biogen Idec Inc. in Cambridge, Massachusetts June 18, 2008. REUTERS/Brian Snyder

(Reuters) - Biogen Idec Inc (BIIB.O) reported stronger-than-expected quarterly earnings, helped by unusually low taxes and sales growth of its treatments for multiple sclerosis.

The U.S. biotechnology company said on Thursday it earned $426.8 million, or $1.79 per share, in the first quarter. That compared with $302.7 million, or $1.25 per share, in the year earlier period.

Excluding special items, the company earned $1.97 per share. Analysts, on average, expected $1.61 per share, according to Thomson Reuters I/B/E/S.

Global revenue rose 10 percent to $1.42 billion, matching Wall Street expectations.

Reporting by Ransdell Pierson; Editing by Jeffrey Benkoe

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below