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Celgene: 2Q Earnings Snapshot

July 26, 2018

SUMMIT, N.J. (AP) _ Celgene Corp. (CELG) on Thursday reported second-quarter net income of $1.05 billion.

The Summit, New Jersey-based company said it had profit of $1.43 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.16 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.

The biotechnology company posted revenue of $3.81 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $3.68 billion.

Celgene expects full-year earnings in the range of $8.70 to $8.75 per share, with revenue expected to be $15 billion.

Celgene shares have declined 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6.5 percent. The stock has declined 36 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CELG at https://www.zacks.com/ap/CELG

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