Incyte Q1 Results Top Estimates

(RTTNews) - Incyte Corp. (INCY) on Tuesday reported net income of $158.20 million or $0.80 per share for the first quarter, lower than $169.55 million or $0.75 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.16 per share, compared to $0.58 per share in the year-ago quarter.

Total revenues for the quarter rose 20 percent to $1.05 billion from $880.89 million in the same quarter last year.

On average, analysts polled expected the company to report earnings of $1.05 per share on revenues of $997.62 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, Incyte now projects Jakafi net product revenue in a range of $2.95 billion to $3.00 billion, up from the prior forecast range of $2.925 billion to $2.975 billion.

Opzelura net product revenues are still expected between $630 million and $670 million, and other Hematology/Oncology net product revenues are also still projected between $415 million and $455 million.

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