Incyte (INCY) released its Q3 2018 earnings today. The company beat Wall Street analysts’ estimates for revenue but missed estimates for EPS. It reported EPS of $0.14 on revenues of $449.68 million in the third quarter of 2018, compared to estimates for EPS of $0.40 on revenues of $449.20 million.
The above chart compares the revenues and EPS for Incyte since the first quarter of 2017.
Revenues in Q3 2018
Incyte reported GAAP revenues of $449.68 million, reflecting ~17.9% year-over-year revenue growth, compared to $381.53 million in the third quarter of 2017. The company’s revenues include milestone income of $20 million—excluding which, the non-GAAP revenues stood at $429.68 million for the quarter.
Incyte’s revenue sources include Jakafi (ruxolitinib) sales in US markets, Iclusig (ponatinib) sales in European markets, and royalties from Jakavi (ruxolitinib) and Olumiant (baricitinib) sales.
- Jakafi (ruxolitinib) net revenues increased 14% to $347.57 million, compared to $303.93 million during the third quarter of 2017.
- Iclusig (ponatinib) net revenues, meanwhile, rose ~11% to $20.15 million, versus $18.1 million during the third quarter of 2017.
- Olumiant (baricitinib) royalty revenues increased to $11.0 million, compared to $0.32 million during the third quarter of 2017.
- Finally, Jakavi (ruxolitinib) royalty revenues rose ~23% to $50.92 million, versus $41.31 million during the third quarter of 2017.