Biogen Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Biogen Inc. (BIIB) announced a profit for its third quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $466.5 million, or $3.17 per share. This compares with $388.5 million, or $2.66 per share, last year.

Excluding items, Biogen Inc. reported adjusted earnings of $707.5 million or $4.81 per share for the period.

Analysts on average had expected the company to earn $3.88 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.8% to $2.534 billion from $2.465 billion last year.

Biogen Inc. earnings at a glance (GAAP) :

-Earnings: $466.5 Mln. vs. $388.5 Mln. last year. -EPS: $3.17 vs. $2.66 last year. -Revenue: $2.534 Bln vs. $2.465 Bln last year.

-Guidance: Full year EPS guidance: $14.50 - $15.00