Biogen Reports Q2 Earnings Beat, Raises Guidance

Biogen BIIB reported second-quarter earnings of $9.15 per share, which beat the analyst consensus estimate of $7.53 by 21.51%. This is a 57.76% increase over earnings of $5.8 per share from the same period last year.

The company reported quarterly sales of $3.617 billion, which beat the analyst consensus estimate of $3.48 billion by 3.94%. This is a 7.75% increase over sales of $3.357 billion the same period last year.

Biogen also raised 2019 guidance from $28-$29 to $31.50-$32.30 versus a $29.70 estimate.

Biogen shares were trading up 1.59% at $236.17 in Tuesday’s pre-market session. The stock has a 52-week high of $388.67 and a 52-week low of $216.12.

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