Biogen second quarter 2022 results beat expectations

US biotech major Biogen (Nasdaq: BIIB) today reported second quarter 2022 financial results.

Second quarter total revenue of $2.59 billion decreased 7% versus the prior year at actual currency and 5% at constant currency, but still beat analysts’ consensus estimates of $2.5 billion. The firm’s shares were down 1.9% in pre-market trading.

Second quarter generally accepted accounting principles (GAAP) net income and diluted earnings per share (EPS) attributable to Biogen were $1,058 million and $7.24, respectively. Second quarter non-GAAP net income and diluted EPS attributable to Biogen were $767 million and $5.25, respectively, with the latter exceeding analysts’ estimates of $4.09.