Compared to Estimates, Exelixis (EXEL) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Exelixis (EXEL) reported revenue of $471.92 million, up 14.6% over the same period last year. EPS came in at $0.10, compared to $0.31 in the year-ago quarter.
The reported revenue represents a surprise of -0.80% over the Zacks Consensus Estimate of $475.73 million. With the consensus EPS estimate being $0.17, the EPS surprise was -41.18%.
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: $426.50 million versus the 10-analyst average estimate of $425.80 million. The reported number represents a year-over-year change of +16.4%.
Revenues- License: $42.37 million versus the five-analyst average estimate of $45.45 million. The reported number represents a year-over-year change of +23.2%.
Revenues- Collaboration services: $3.06 million compared to the $9.65 million average estimate based on four analysts.
View all Key Company Metrics for Exelixis here>>>
Shares of Exelixis have returned -5.9% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Exelixis, Inc. (EXEL) : Free Stock Analysis Report
