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Biogen Boosts FY21 Adj. EPS Outlook; Q1 Results Top Estimates - Quick Facts

While reporting financial results for the first quarter on Thursday, Biogen Inc. (BIIB) raised its adjusted earnings guidance for the full-year 2021, but maintained revenue outlook.

For fiscal 2021, the company raised its adjusted earnings guidance to a range of $17.50 to $19.00 per share from the range of $17.00 to $18.50 per share, but maintained its revenues outlook between $10.45 billion and $10.75 billion.

On average, 30 analysts polled by Thomson Reuters expect the company to report earnings of $18.41 per share on revenues of $10.57 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported net income attributable to the company of $410.2 million or $2.69 per share, sharply down from $1.40 billion or $8.08 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $5.34 per share, compared to $9.14 per share in the year-ago quarter.

Total revenue for the quarter declined to $2.69 billion from $3.53 billion in the same quarter last year.

The Street expected the company to report earnings of $5.04 per share on revenues of $2.65 billion for the quarter.

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