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Celgene: 3Q Earnings Snapshot

October 25, 2018

SUMMIT, N.J. (AP) _ Celgene Corp. (CELG) on Thursday reported third-quarter earnings of $1.08 billion.

On a per-share basis, the Summit, New Jersey-based company said it had net income of $1.50. Earnings, adjusted for stock option expense and non-recurring costs, were $2.29 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.

The biotechnology company posted revenue of $3.89 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $3.83 billion.

Celgene expects full-year earnings in the range of $8.75 to $8.80 per share, with revenue expected to be $15.2 billion.

Celgene shares have declined 28 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined roughly 1 percent. The stock has dropped 38 percent in the last 12 months.


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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