Celgene’s 3rd-qtr, which posted a loss, disappoints

5 November 2015

US biotech major Celgene Corp's (Nasdaq: CELG) shares fell 6.25% to $119.18 in early trading on Thursday after the company reported third-quarter 2015 sales that missed estimates and profit that barely topped analysts' estimates.

Total revenue for the quarter rose 17.7% to $2.33 billion but was below the average analysts’ estimate of $2.40 billion, according to Thomson Reuters.

Celgene posted net loss of $34.1 million, or $0.04 per share in the quarter, compared with a net profit of $508.5 million, or $0.61 per share, a year earlier. Excluding special items, arising from acquisitions and collaborations, the company earned $1.23 per share in the quarter, marginally beating the average analysts' estimate of $1.22 per share.

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