Incyte Q1 2024 Adj EPS $0.64 Misses $0.84 Estimate, Sales $880.889 Miss $926.533M Estimate
Portfolio Pulse from Benzinga Newsdesk
Incyte (NASDAQ:INCY) reported Q1 2024 adjusted EPS of $0.64, missing the $0.84 estimate, and sales of $880.889M, missing the $926.533M estimate. This represents a 72.97% increase in earnings and a significant sales increase from the same period last year.

April 30, 2024 | 11:02 am
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Incyte's Q1 2024 earnings and sales missed analyst estimates, with adjusted EPS at $0.64 against an $0.84 estimate and sales at $880.889M against a $926.533M estimate.
Missing both earnings and sales estimates significantly, especially in a quarter, indicates underperformance and may lead to negative investor sentiment in the short term. The reported increase in earnings year-over-year might provide some buffer, but the miss on expectations is likely to have a more immediate negative impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100