Compared to Estimates, Exelixis (EXEL) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2023, Exelixis (EXEL) reported revenue of $408.79 million, up 14.8% over the same period last year. EPS came in at $0.16, compared to $0.21 in the year-ago quarter.
The reported revenue represents a surprise of -4.47% over the Zacks Consensus Estimate of $427.91 million. With the consensus EPS estimate being $0.23, the EPS surprise was -30.43%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Exelixis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Net product: $363.40 million compared to the $379.94 million average estimate based on seven analysts. The reported number represents a change of +17.1% year over year.
Revenues- Net product- Cabometyx: $361.77 million versus $375.28 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +19.5% change.
Revenues- Net product- Cometriq: $1.63 million versus the five-analyst average estimate of $6.36 million. The reported number represents a year-over-year change of -78.3%.
Revenues- License: $38.29 million versus $35.90 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +19.4% change.
Revenues- Collaboration services: $7.10 million compared to the $8.75 million average estimate based on three analysts.
View all Key Company Metrics for Exelixis here>>>
Shares of Exelixis have returned -5.4% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Exelixis, Inc. (EXEL) : Free Stock Analysis Report
