Incyte Q2 Results Top Estimates

(RTTNews) - Incyte Corp. (INCY) on Tuesday reported net income of $405.0 million or $2.04 per share for the second quarter, compared to a net loss of $444.60 million or $2.04 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.57 per share, compared to adjusted net loss of $1.82 per share in the year-ago quarter.

Total revenues for the quarter rose 16 percent to $1.22 billion from $1.04 million in the same quarter last year.

On average, analysts polled expected the company to report earnings of $1.48 per share on revenues of $1.15 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, Incyte now projects Jakafi net product revenue in a range of $3.0 billion to $3.05 billion, up from the prior forecast range of $2.95 billion to $3.00 billion.

Opzelura net product revenues are still expected between $630 million and $670 million, and other Oncology net product revenues are now projected between $500 million and $520 million, up from prior forecast between $415 million and $455 million.

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