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Biogen (BIIB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Biogen Inc. (BIIB - Free Report) reported $2.74 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 3.4%. EPS of $3.60 for the same period compares to $5.47 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.5 billion, representing a surprise of +9.4%. The company delivered an EPS surprise of +18.42%, with the consensus EPS estimate being $3.04.

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.

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 Biogen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Revenue- Product- Rare Disease- SPINRAZA- United States: $204.3 million versus $149.18 million estimated by 22 analysts on average. Compared to the year-ago quarter, this number represents a +36.8% change.
  • Revenue- Product- Multiple Sclerosis (MS)- United States: $621 million compared to the $573 million average estimate based on 21 analysts. The reported number represents a change of -5.5% year over year.
  • Revenue- Product- Rare Disease- SKYCLARYS - United States: $82.3 million versus the 21-analyst average estimate of $84.27 million. The reported number represents a year-over-year change of +5.5%.
  • Revenue- Product- Multiple Sclerosis (MS)- Interferon- United States: $146.1 million versus the 21-analyst average estimate of $138.46 million. The reported number represents a year-over-year change of -2.6%.
  • Revenue- Anti-CD20 therapeutic programs: $513.5 million compared to the $473.33 million average estimate based on 25 analysts. The reported number represents a change of +9.9% year over year.
  • Revenue- Contract manufacturing, royalty and other revenue: $242.4 million versus $151.82 million estimated by 23 analysts on average.
  • Revenue- Product- Multiple Sclerosis (MS)- Fumarate- Total: $287.4 million compared to the $308.1 million average estimate based on 23 analysts. The reported number represents a change of -29.2% year over year.
  • Alzheimer's collaboration revenue: $63.7 million versus $65.97 million estimated by 23 analysts on average. Compared to the year-ago quarter, this number represents a +16% change.
  • Revenue- Product- Rare Disease- SKYCLARYS- Total: $167.9 million versus $154.66 million estimated by 23 analysts on average. Compared to the year-ago quarter, this number represents a +28.9% change.
  • Revenue- Product- Rare Disease- SPINRAZA- Total: $401.9 million compared to the $379.46 million average estimate based on 23 analysts. The reported number represents a change of +2.3% year over year.
  • Revenue- Product- Multiple Sclerosis (MS)- TYSABRI- Total: $450.8 million versus the 23-analyst average estimate of $374.73 million. The reported number represents a year-over-year change of -0.8%.
  • Revenue- Product- Biosimilars- Total: $152.8 million versus the 22-analyst average estimate of $160.18 million. The reported number represents a year-over-year change of -15.9%.

View all Key Company Metrics for Biogen here>>>

Shares of Biogen have returned -4.8% over the past month versus the Zacks S&P 500 composite's +1.9% 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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