Celgene Shares Surge 1.6% On Second-quarter Profit, Revenue Beats

Celgene Corp. shares surged 1.6% in premarket trade Thursday after the company reported second-quarter profit and revenue beats. Earnings for the latest quarter rose to $1.06 billion, or $1.31 per share, from $598 million, or 75 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.82, above the FactSet consensus of $1.78. Revenue rose to $3.27 billion from $2.75 billion, above the FactSet consensus of $3.23 billion. Revenue for chemotherapy drug Revlimid came in at $2.03 billion, above the FactSet consensus of $2.01 billion. Revenue for cancer drug Pomalyst came in at $391 million, below the FactSet consensus of $393 million. Revenue for psoriasis drug Otezla came in at $358 million, above the FactSet consensus of $347 million. Chemotherapy drug Abraxane's revenue came to $254 million, above the FactSet consensus of $252 million. And revenue for chemotherapy drug Vidaza came to $156 million, below the FactSet consensus of $157 million. Celgene lowered its 2017 EPS guidance to $5.36 to $5.62 from $5.95 to $6.29 and raised its adjusted EPS guidance to $7.25 to $7.35 from $7.15 to $7.30. Celgene shares have surged 11.1% over the last three months, compared with a 3.7% rise in the S&P 500 .