Biogen reports better than expected 3rd-qtr 2023 results

8 November 2023

US biotech major Biogen (Nasdaq: BIIB) today reported third quarter 2023 results and updated full year 2023 guidance that failed to impress investors, with its shares falling 4.7% to $235.34 in early trading’

Total revenue rose 1% year-over-year to $2.53 billion, but up 3% in constant currency, and beating forecasts for $2.23 billion, according to FactSet.

On an adjusted basis, earnings tumbled 9% year over year to $4.36 per share, also topping analysts’ views for $3.70.

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