Biogen's Q3 Profit Beats Expectations On Lower Multiple Sclerosis Revenues But New Products Offset Losses, Raises Profit Outlook
Portfolio Pulse from Vandana Singh
Biogen Inc (NASDAQ:BIIB) reported Q3 earnings that beat expectations despite a decline in multiple sclerosis revenues. The company raised its 2024 profit outlook, expecting new product revenues to offset declines in older products. BIIB stock is down 1.37% following the announcement.
October 30, 2024 | 2:21 pm
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Biogen's Q3 earnings exceeded expectations with an EPS of $4.08, despite a decline in multiple sclerosis revenues. The company raised its 2024 profit outlook, expecting new product revenues to offset declines in older products.
Biogen's Q3 results exceeded expectations, and the company raised its profit outlook for 2024. Despite a decline in multiple sclerosis revenues, new products are expected to offset these losses. This positive outlook is likely to have a favorable impact on the stock price in the short term, although the stock is currently down 1.37%.
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