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Exelixis: Q1 Earnings Snapshot

ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported first-quarter earnings of $210.5 million.

The Alameda, California-based company said it had net income of 79 cents per share. Earnings, adjusted for stock option expense, came to 87 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The drug developer posted revenue of $610.8 million in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $612.6 million.

Exelixis expects full-year revenue in the range of $2.53 billion to $2.63 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXEL at https://www.zacks.com/ap/EXEL

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