Biogen Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Biogen Inc. (BIIB) announced earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $550.4 million, or $3.79 per share. This compares with $368.2 million, or $2.50 per share, in last year's fourth quarter.

Excluding items, Biogen Inc. reported adjusted earnings of $587.2 million or $4.05 per share for the period.

Analysts on average had expected the company to earn $3.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.0% to $2.54 billion from $2.73 billion last year.

Biogen Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $550.4 Mln. vs. $368.2 Mln. last year. -EPS (Q4): $3.79 vs. $2.50 last year. -Analyst Estimate: $3.48 -Revenue (Q4): $2.54 Bln vs. $2.73 Bln last year.