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Celgene: 4Q Earnings Snapshot

January 31, 2019

SUMMIT, N.J. (AP) _ Celgene Corp. (CELG) on Thursday reported fourth-quarter net income of $1.07 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Summit, New Jersey-based company said it had profit of $1.50. Earnings, adjusted for one-time gains and costs, came to $2.39 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.32 per share.

The biotechnology company posted revenue of $4.04 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.98 billion.

For the year, the company reported profit of $4.05 billion, or $5.51 per share. Revenue was reported as $15.28 billion.

Celgene expects full-year earnings in the range of $10.60 to $10.80 per share, with revenue in the range of $17 billion to $17.2 billion.

Celgene shares have risen 37 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 7 percent. The stock has declined 13 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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