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Biogen (BIIB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

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Biogen Inc. (BIIB - Free Report) reported $2.28 billion in revenue for the quarter ended December 2025, representing a year-over-year decline of 7.1%. EPS of $1.99 for the same period compares to $3.44 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.21 billion, representing a surprise of +3.06%. The company delivered an EPS surprise of +23.4%, with the consensus EPS estimate being $1.61.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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 Biogen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Revenue- Product- Multiple Sclerosis (MS)- Interferon- Rest of world: $81.8 million versus $84.89 million estimated by 22 analysts on average. Compared to the year-ago quarter, this number represents a -19.8% change.
  • Revenue- Product- Multiple Sclerosis (MS)- Fumarate- TECFIDERA- United States: $36.9 million versus $34.6 million estimated by 22 analysts on average. Compared to the year-ago quarter, this number represents a -10.7% change.
  • Revenue- Product- Multiple Sclerosis (MS)- Fumarate- TECFIDERA- Rest of world: $74.9 million versus $85.02 million estimated by 22 analysts on average. Compared to the year-ago quarter, this number represents a -59.8% change.
  • Revenue- Product- Multiple Sclerosis (MS)- Interferon- United States: $143.9 million versus $130.55 million estimated by 22 analysts on average. Compared to the year-ago quarter, this number represents a +7.4% change.
  • Revenue- Anti-CD20 therapeutic programs: $521.2 million versus $456.06 million estimated by 27 analysts on average. Compared to the year-ago quarter, this number represents a +12.1% change.
  • Revenue- Product- Multiple Sclerosis (MS)- TYSABRI- Total: $397.5 million versus $361.69 million estimated by 26 analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.
  • Revenue- Product- Rare Disease- SKYCLARYS- Total: $133.4 million versus $138.79 million estimated by 26 analysts on average. Compared to the year-ago quarter, this number represents a +30.5% change.
  • Revenue- Product- Rare Disease- SPINRAZA- Total: $356.2 million versus $379.75 million estimated by 26 analysts on average. Compared to the year-ago quarter, this number represents a -15.5% change.
  • Alzheimer's collaboration revenue: $47.1 million versus $48.76 million estimated by 26 analysts on average.
  • Revenue- Product, net: $1.67 billion versus the 25-analyst average estimate of $1.67 billion. The reported number represents a year-over-year change of -9%.
  • Revenue- Product- Multiple Sclerosis (MS)- Fumarate- TECFIDERA- Total: $111.8 million versus the 24-analyst average estimate of $120.13 million. The reported number represents a year-over-year change of -50.9%.
  • Revenue- Contract manufacturing, royalty and other revenue: $43.8 million versus $29.66 million estimated by 24 analysts on average.

View all Key Company Metrics for Biogen here>>>

Shares of Biogen have returned -0.3% 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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