Incyte Q1 Results Top Estimates

(RTTNews) - Incyte Corp. (INCY) on Tuesday reported net income of $161.43 million or $0.72 per share for the first quarter, up from $149.46 million or $0.67 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.01 per share, compared to $0.80 per share in the year-ago quarter.

Total revenues for the quarter rose 29 percent to $911.40 million from $705.71 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share on revenues of $818.49 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, Incyte now projects Jakafi net product revenue in a range of $2.36 billion to $2.40 billion. Other Hematology/Oncology net product revenues are projected between $210 million and $240 million.

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