Celgene 2nd-qtr beats expectations, as B-MS takeover closing pushed back

31 July 2019

US biotech Celgene (Nasdaq: CELG) has reported second-quarter 2019 earnings that beat Wall Street expectations. Profit in the latest quarter rose to $1.571 billion, or $2.16 a share, from $1.045 billion, or $1.43 a share, in the year-earlier quarter.

Adjusted earnings per share (EPS) were $2.86, topping the $2.63 a share predicted by FactSet analysts. Revenue rose 15% to $4.4 billion from $3.814 billion a year ago, topping the FactSet consensus of $4.235 billion, said Celgene, currently the subject of a $74 billion takeover by US pharma major Bristol-Myers Squibb (NYSE: BMY).

Celgene’s shares dipped 0.4% to $92.61 by close of trading on Tuesday but edged up 0.o43% to $92.65 pre-market today.

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