Biogen beats Q2 consensus; EPS guidance tops estimates

Biogen (BIIB) Q2 results:

Revenues: $3,682M (+1.8%).

Net Income: $1,542M (+3.2%); EPS: $9.59 (+22.2%); non-GAAP Net Income: $1,651M (-5.2%); non-GAAP EPS: $10.26 (+12.1%).

CF Ops: $1,948M.

Key product sales: Spinraza sales: $495M (+1%); Tecfidera: $1,182M (+3%); Tysabri: $432M (-9%); Avonex: $389M (-11%); Rituxan/Gazyva: $270M (-31%); Ocrevus royalties: $208M (+14%); Benepali: $106M (-12%).

2020 Guidance: Revenue: $13.8B – 14.2B from prior range of $14.0B – 14.3B. The midpoint for analyst expectations was $13.92B; GAAP EPS: $32.00 – $34.00 from $29.50 – $31.50; Non-GAAP EPS: $34.00 – $36.00 from prior guidance of $31.50 – $33.50. The midpoint for analyst expectations was $32.93.

https://seekingalpha.com/news/3593527-biogen-beats-q2-consensus-eps-guidance-tops-estimates