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Incyte (INCY) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

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Incyte (INCY - Free Report) reported $1.04 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.3%. EPS of -$1.82 for the same period compares to $0.99 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.02 billion, representing a surprise of +2.39%. The company delivered an EPS surprise of -333.33%, with the consensus EPS estimate being $0.78.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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: $20.27 million versus the nine-analyst average estimate of $20.57 million. The reported number represents a year-over-year change of -6%.
  • Revenues- Product revenues: $906.57 million versus $872.18 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +9.6% change.
  • Net product revenues- Iclusig: $26.86 million compared to the $30.12 million average estimate based on nine analysts. The reported number represents a change of -7.7% year over year.
  • Net product revenues- Minjuvi: $31.12 million versus the nine-analyst average estimate of $28.52 million. The reported number represents a year-over-year change of +136.5%.
  • Net product revenues- Opzelura: $121.70 million compared to the $113.67 million average estimate based on nine analysts. The reported number represents a change of +51.7% year over year.
  • Net product revenues- Jakafi: $705.97 million versus the nine-analyst average estimate of $678.40 million. The reported number represents a year-over-year change of +3.5%.
  • Net product revenues- Zynyz: $0.65 million compared to the $0.90 million average estimate based on nine analysts.
  • Royalty revenues- Jakavi: $99.32 million versus $92.20 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
  • Revenues- Product royalty revenues: $137.19 million versus $132.69 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +7.5% change.
  • Royalty revenues- Olumiant: $31.70 million versus $33.49 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -1% change.
  • Royalty revenues- Tabrecta: $5.30 million versus the eight-analyst average estimate of $6.19 million. The reported number represents a year-over-year change of +10.4%.
  • Royalty revenues- Pemazyre: $0.88 million compared to the $0.64 million average estimate based on six analysts.
View all Key Company Metrics for Incyte here>>>

Shares of Incyte have returned +12.7% over the past month versus the Zacks S&P 500 composite's +0.1% 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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