Exelixis (EXEL) Reports Q1 Earnings: What Key Metrics Have to Say

For the quarter ended March 2024, Exelixis (EXEL) reported revenue of $425.23 million, up 4% over the same period last year. EPS came in at $0.17, compared to $0.16 in the year-ago quarter.

The reported revenue represents a surprise of -9.07% over the Zacks Consensus Estimate of $467.64 million. With the consensus EPS estimate being $0.28, the EPS surprise was -39.29%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Exelixis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues- Net product: $378.52 million versus the eight-analyst average estimate of $419.29 million. The reported number represents a year-over-year change of +4.2%.

• Revenues- Net product- CABOMETYX: $376.42 million versus $427.38 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.

• Revenues- Net product- COMETRIQ: $2.11 million compared to the $3.65 million average estimate based on six analysts. The reported number represents a change of +29.4% year over year.

• Revenues- License: $44.68 million versus the three-analyst average estimate of $35.33 million. The reported number represents a year-over-year change of +16.7%.

• Revenues- Collaboration services: $2.03 million compared to the $4.51 million average estimate based on three analysts. The reported number represents a change of -71.4% year over year.

View all Key Company Metrics for Exelixis here>>>

Shares of Exelixis have returned +0.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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