Investing.com - Biogen (NASDAQ:BIIB) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Biogen announced earnings per share of $9.14 on revenue of $3.53B. Analysts polled by Investing.com anticipated EPS of $7.67 on revenue of $3.41B. That with comparison to EPS of $6.98 on revenue of $3.49B in the same period a year before. Biogen had reported EPS of $8.34 on revenue of $3.67B in the previous quarter. Analysts are expecting EPS of $8.24 and revenue of $3.51B in the upcoming quarter.
Biogen shares are up 10% from the beginning of the year , still down 12.26% from its 52 week high of $374.99 set on February 5. They are outperforming the Nasdaq which is down 8.59% year to date.
Biogen follows other major Healthcare sector earnings this month
Biogen's report follows an earnings beat by J&J on April 14, who reported EPS of $2.3 on revenue of $20.69B, compared to forecasts EPS of $2.02 on revenue of $19.73B.
Abbott Labs had beat expectations on April 16 with first quarter EPS of $0.65 on revenue of $7.73B, compared to forecast for EPS of $0.59 on revenue of $7.44B.
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