Wall Street is expecting higher profit for PDL BioPharma when the company reports its second quarter results on Thursday, August 8, 2013. The consensus estimate is calling for profit of 57 cents a share, a rise from 53 cents per share a year ago.
The consensus estimate remains unchanged over the past month, but it has increased from three months ago when it was 55 cents. For the fiscal year, analysts are expecting earnings of $1.73 per share. Revenue is projected to be 10% above the year-earlier total of $125.9 million at $138.2 million for the quarter. For the year, revenue is expected to come in at $428.7 million.
A year-over-year revenue decrease in the first quarter snapped a streak of three consecutive quarters of revenue increases.
The fall in profit in the first quarter followed a profit increase in the previous quarter. Net income dropped in the most recent quarter by 27% to $53.5 million. The quarter prior to that, net income rose 27%.
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Earnings estimates provided by Zacks.
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