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Biogen Boosts FY21 Revenue Outlook; Q2 Results Top Estimates - Quick Facts

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

For fiscal 2021, the company maintained its adjusted earnings guidance in the range of $17.50 to $19.00 per share, but raised revenue outlook to be between $10.65 billion and $10.85 billion from the prior range between $10.45 billion and $10.75 billion.

On average, 32 analysts polled by Thomson Reuters expect the company to report earnings of $18.59 per share on revenues of $10.63 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to the company of $448.5 million or $2.99 per share, sharply down from $1.54 billion or $9.59 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $5.68 per share, compared to $9.85 per share in the year-ago quarter.

Total revenue for the quarter declined to $2.78 billion from $3.68 billion in the same quarter last year.

The Street expected the company to report earnings of $4.55 per share on revenues of $2.61 billion for the quarter.

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