ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported fourth-quarter earnings of $244.5 million.
On a per-share basis, the Alameda, California-based company said it had net income of 88 cents. Earnings, adjusted for stock option expense, were 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The drug developer posted revenue of $598.7 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $584.7 million.
For the year, the company reported profit of $782.6 million, or $2.78 per share. Revenue was reported as $2.32 billion.
Exelixis expects full-year revenue in the range of $2.53 billion to $2.63 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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