Biogen Q1 2024 Adj EPS $3.67 Beats $3.44 Estimate, Sales $2.291B Miss $2.311B Estimate
Portfolio Pulse from Benzinga Newsdesk
Biogen (NASDAQ:BIIB) reported Q1 2024 earnings of $3.67 per share, surpassing the $3.44 estimate, marking a 7.94% increase from last year. However, their sales of $2.291B fell short of the $2.311B estimate, a 7.00% decrease from the previous year.

April 24, 2024 | 10:49 am
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Biogen's Q1 2024 earnings exceeded expectations with an EPS of $3.67, a 7.94% increase from last year, but sales missed estimates by 0.87%, showing a 7.00% decrease.
Biogen's earnings beat could positively impact investor sentiment due to the higher than expected EPS, indicating operational efficiency and profitability. However, the miss on sales forecasts could temper enthusiasm, reflecting potential challenges in revenue growth. The mixed results present a neutral short-term outlook for BIIB's stock price, as the positive earnings surprise is offset by the slight disappointment in sales.
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