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Incyte (INCY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Incyte (INCY - Free Report) reported revenue of $808.67 million, up 10.3% over the same period last year. EPS came in at $0.37, compared to $0.55 in the year-ago quarter.
The reported revenue represents a surprise of -7.17% over the Zacks Consensus Estimate of $871.17 million. With the consensus EPS estimate being $0.85, the EPS surprise was -56.47%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Incyte performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net product revenues- Pemazyre: $22.48 million versus $23.84 million estimated by 12 analysts on average.
Revenues- Product revenues: $693.24 million versus the seven-analyst average estimate of $766.49 million. The reported number represents a year-over-year change of +14.4%.
Revenues- Product royalty revenues: $115.44 million versus the six-analyst average estimate of $118.69 million. The reported number represents a year-over-year change of -5.7%.
Net product revenues- Minjuvi: $6.56 million compared to the $6.25 million average estimate based on six analysts.
Net product revenues- Jakafi: $579.97 million versus the six-analyst average estimate of $624.04 million. The reported number represents a year-over-year change of +6.5%.
Net product revenues- Iclusig: $27.69 million versus $26.55 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.2% change.
Royalty revenues- Jakavi: $76.69 million versus $81.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Royalty revenues- Tabrecta: $4.18 million versus the five-analyst average estimate of $4.62 million.
Royalty revenues- Olumiant: $34.16 million versus $34.59 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -28.9% change.
Net product revenues- Opzelura: $56.55 million versus $70.26 million estimated by five analysts on average.
Shares of Incyte have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Incyte (INCY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Incyte (INCY - Free Report) reported revenue of $808.67 million, up 10.3% over the same period last year. EPS came in at $0.37, compared to $0.55 in the year-ago quarter.
The reported revenue represents a surprise of -7.17% over the Zacks Consensus Estimate of $871.17 million. With the consensus EPS estimate being $0.85, the EPS surprise was -56.47%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Incyte performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net product revenues- Pemazyre: $22.48 million versus $23.84 million estimated by 12 analysts on average.
- Revenues- Product revenues: $693.24 million versus the seven-analyst average estimate of $766.49 million. The reported number represents a year-over-year change of +14.4%.
- Revenues- Product royalty revenues: $115.44 million versus the six-analyst average estimate of $118.69 million. The reported number represents a year-over-year change of -5.7%.
- Net product revenues- Minjuvi: $6.56 million compared to the $6.25 million average estimate based on six analysts.
- Net product revenues- Jakafi: $579.97 million versus the six-analyst average estimate of $624.04 million. The reported number represents a year-over-year change of +6.5%.
- Net product revenues- Iclusig: $27.69 million versus $26.55 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.2% change.
- Royalty revenues- Jakavi: $76.69 million versus $81.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Royalty revenues- Tabrecta: $4.18 million versus the five-analyst average estimate of $4.62 million.
- Royalty revenues- Olumiant: $34.16 million versus $34.59 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -28.9% change.
- Net product revenues- Opzelura: $56.55 million versus $70.26 million estimated by five analysts on average.
View all Key Company Metrics for Incyte here>>>Shares of Incyte have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.