WESTON (dpa-AFX) - Biotechnology company Biogen, Inc. (BIIB) reported Thursday that net income attributable to the company for the second quarter grew to $634.8 million or $4.33 per share from $583.6 million or $4.00 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $5.47 per share, compared to $5.28 per share in the year-ago quarter.
On average, 26 analysts polled expected the company to report earnings of $3.87 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter grew 7 percent to $2.65 billion from $2.46 billion in the same quarter last year. Revenues were up 8 percent in constant currency. Analysts expected revenues of $2.32 billion for the quarter.
Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $15.50 to $16.00 per share on total revenue of approximately flat at constant currency.
Previously, the company expected adjusted earnings in a range of $14.50 to $15.50 per share on a total revenue decline in the mid-single digits at constant currency to reflect the $165 million upfront transaction payment to Stoke and more favorable foreign exchange.
The Street is looking for earnings of $14.64 per share on a revenue decline of 4.31 percent to $9.26 billion for the year.
The company said tThe U.S. and international tariff landscape remains uncertain, and this guidance does not include contemplation of any new tariffs.
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