Incyte Corp. announced on Tuesday a significant increase in its net income for the fourth quarter, amounting to $201.10 million or $0.89 per share. This is a stark rise from the previous year's fourth quarter which saw earnings of $28.46 million or $0.13 per share.
When considering special items, the adjusted net income for the quarter was $1.06 per share as opposed to the $0.62 per share experienced in the fourth quarter of the previous year.
Furthermore, the total quarter revenues saw a growth of 9 percent, rising to $1.01 billion from the $926.70 million witnessed in the same quarter the previous year.
Analysts from Thomson Reuters, on average, forecasted that the corporation would post earnings of $1.16 per share on revenues of $1.0 billion for the quarter. However, these estimations routinely exclude special items.
Looking ahead to the fiscal year of 2024, Incyte Corp now anticipates a net product revenue from Jakafi in the range of $2.69 billion to $2.75 billion. The projection for other Hematology/Oncology net product revenues falls between $325 million to $360 million.
