Alexion rises as sales and earnings beat expectations

23 October 2019

US biotech firm Alexion Pharmaceuticals (Nasdaq: APXN) saw its shares rise 5.9% to $105.15 by mid-morning trading, as it posted third-quarter 2019 financial results that beat analysts’ expectations.

Total revenues in the third quarter were $1.26 billion, up 23% compared to the same period in 2018, surpassing the Zacks consensus estimate by 1.87%. The negative impact of foreign currency on total revenues year-over-year was less than 1%, or $2.5 million, inclusive of hedging activities.

On a generally accepted accounting principles (GAAP) basis, diluted EPS in the quarter was $2.08, a 41% increase. Non-GAAP diluted EPS 2019 was $2.79, a 38%, beating the Zacks consensus estimate of $2.49 per share.

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