Biogen Inc. Reports Increase in Q1 2024 Adjusted Earnings Despite Revenue Dip

Wednesday, 24 April 2024, 13:05

Biogen 𝘐𝘯𝘤. (NASDAQ: BIIB) posted an 8% annual increase in adjusted earnings for Q1 2024 amid a 7% year-over-year revenue decline, expecting a further revenue drop for the year. Despite the revenue fall, the company's adjusted earnings per share showed a rise, with net income also seeing growth compared to the prior year's figures.

https://store.livarava.com/6a9fb0bd-023b-11ef-a6c0-63e1980711b2.jpg — Biogen Inc. Reports Increase in Q1 2024 Adjusted Earnings Despite Revenue Dip

Biogen Inc. Earnings Report Highlights:

Q1 2024 adjusted profit rises despite revenue decline
Annual adjusted earnings per share increases by 8%

Financial Outlook:

The company projects a low-to-mid-single digit percentage drop in full-year 2024 revenues, with a forecasted adjusted earnings per share range of $15.00 to $16.00.

Conclusion: Despite the lower revenues, Biogen Inc. showed resilience in its adjusted earnings for the first quarter of 2024.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Biogen Inc. Earnings Report Highlights:

Financial Outlook:

Related posts