Exelixis Reports Strong Q4 Earnings, Beats Street Forecasts
ALAMEDA, Calif.—Exelixis Inc. (EXEL) announced fourth-quarter 2023 profits of $139.9 million, translating to earnings per share of 48 cents. Adjusted for stock option expenses, earnings reached 55 cents per share, exceeding Wall Street analysts' consensus estimate of 51 cents.
The drug developer also reported revenue of $566.8 million for the quarter, surpassing analysts' expectations of $563.1 million. For the full year, Exelixis reported profits of $521.3 million or $1.76 per share, with revenue amounting to $2.17 billion.
The company forecasts full-year revenue for 2024 to range between $2.15 billion and $2.25 billion.