Genentech Cruised Past Estimates
Genetech (DNA-NYSE) posted earnings: $0.74 EPS and revenues were $2.843 Billion; expectations were $0.67 EPS & R$2.74 Billion. The stock is still at the lower end of its recent trading range of 2007. Avastin and Rituxan were more than $1…
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Genetech (DNA-NYSE) posted earnings: $0.74 EPS and revenues were $2.843 Billion; expectations were $0.67 EPS & R$2.74 Billion. The stock is still at the lower end of its recent trading range of 2007. Avastin and Rituxan were more than $1 Billion combined, although there are some mixed feelings on individual drug sales from Genentech. R&D expenses grew 68% on a non-GAAP basis to $572 million year over year. We’ll have to see if they offer any new guidance in the conference call in an hour.
Jon C. Ogg
April 11, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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