The consensus estimate remains unchanged over the past month, but it has decreased from three months ago when it was a loss of six cents. For the fiscal year, analysts are expecting a loss of 14 cents per share. Revenue is projected to be $5.3 million for the quarter, 257% above the year-earlier total of $1.5 million. For the year, revenue is projected to roll in at $85.1 million.
The company has seen increasing revenue for two consecutive quarters. In the second quarter, revenue increased 4542% to $68.9 million from the year earlier quarter. In the first quarter, the figure rose 8%.
Arena Pharmaceuticals' profit this past quarter came after three straight quarters of losses.
Earnings estimates provided by Zacks.
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