ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported second-quarter earnings of $81.2 million.
On a per-share basis, the Alameda, California-based company said it had profit of 25 cents. Earnings, adjusted for stock option expense, came to 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The drug developer posted revenue of $469.8 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $448.6 million.
Exelixis expects full-year revenue in the range of $1.78 billion to $1.88 billion.
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