Exelixis: 2Q Earnings Snapshot
ALAMEDA, Calif. (AP) _ Exelixis Inc. (EXEL) on Wednesday reported second-quarter earnings of $79 million.
On a per-share basis, the Alameda, California-based company said it had profit of 25 cents.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The drug developer posted revenue of $240.3 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $228.8 million.
Exelixis shares have risen 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.27, an increase of roughly 3% in the last 12 months.