Biogen Inc. Q4 Profit Decreases, misses estimates

(RTTNews) - Biogen Inc. (BIIB) reported earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $249.7 million, or $1.71 per share. This compares with $550.4 million, or $3.79 per share, in last year's fourth quarter.

Excluding items, Biogen Inc. reported adjusted earnings of $430.3 million or $2.95 per share for the period.

Analysts on average had expected the company to earn $3.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.9% to $2.39 billion from $2.54 billion last year.

Biogen Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $249.7 Mln. vs. $550.4 Mln. last year. -EPS (Q4): $1.71 vs. $3.79 last year. -Analyst Estimates: $3.18 -Revenue (Q4): $2.39 Bln vs. $2.54 Bln last year.