Exelixis: Q4 Earnings Snapshot

Associated Press Finance
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ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported fourth-quarter earnings of $85.5 million.

On a per-share basis, the Alameda, California-based company said it had profit of 27 cents. Earnings, adjusted for stock option expense, came to 33 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The drug developer posted revenue of $479.7 million in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $481.2 million.

For the year, the company reported profit of $207.8 million, or 65 cents per share. Revenue was reported as $1.83 billion.

Exelixis expects full-year revenue in the range of $1.83 billion to $1.93 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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