Incyte Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Incyte (NASDAQ:INCY) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.14b (up 24% from 3Q 2023).
• Net income: US$106.5m (down 38% from 3Q 2023).
• Profit margin: 9.4% (down from 19% in 3Q 2023).
• EPS: US$0.55 (down from US$0.76 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Incyte Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 31%.

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are up 13% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Incyte that you need to be mindful of.

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