— Avid Bioservices (NASDAQ: CDMO) reported a second-quarter 2020 loss of $0.03 per share versus a loss of $0.05 per share expected.
— Revenue soared by 80% to $18.3 million versus $14.25 million expected. This was driven by an increase in the number of in-process and completed manufacturing runs as a result of growing demand from a more diversified client base.
— As of October 31, 2019, revenue backlog was about $52 million, a decrease of 16% as compared to the first quarter of fiscal 2020. The company expects to recognize the majority of this backlog within the next twelve months.
— The gross margin increased to 18% from 3% in the prior-year quarter. This was primarily attributed to the increased number of manufacturing runs.
— Looking ahead into fiscal 2020, the company confirmed its revenue outlook in the range of $64 million to $67 million. In contrast, analysts expect revenue of $65.38 million for the full year.
— The company launched expanded process development (PD) facilities and services. Also, it expanded the scope of work with multiple existing customers to increase the number of manufacturing batches and/or scale of production.
Biogen (NASDAQ: BIIB) reported third-quarter 2021 financial results before the regular market hours on Wednesday. The company reported Q3 revenue of $2.78 billion, down 18% year-over-year and higher than the
Verizon (NYSE: VZ) reported Third-quarter 2021 financial results before the regular trading hours on Wednesday. The telecommunications giant reported Q3 revenue of $32.9 billion, up 4.3% year-over-year and above the
Philip Morris International Inc. (NYSE: PM) reported Third-quarter 2021 earnings results today. Net revenues increased 9% year-over-year to $8.1 billion. The reported net income amounted to $2.42 billion compared to