ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported fourth-quarter profit of $139.9 million.
On a per-share basis, the Alameda, California-based company said it had net income of 48 cents. Earnings, adjusted for stock option expense, were 55 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The drug developer posted revenue of $566.8 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $563.1 million.
For the year, the company reported profit of $521.3 million, or $1.76 per share. Revenue was reported as $2.17 billion.
Exelixis expects full-year revenue in the range of $2.15 billion to $2.25 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXEL at https://www.zacks.com/ap/EXEL
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