Published on 11 May 2022 on Zacks via Yahoo Finance
Halozyme (HALO) Q1 Earnings Miss, Royalties Aid Y/Y Revenues
Halozyme Therapeutics, Inc. HALO reported first-quarter 2022 adjusted earnings of 47 cents per share (excluding stock-based compensation expense), which missed the Zacks Consensus Estimate of 48 cents. The company’s earnings were 37 cents per share in the year-ago period.
Total revenues increased 31.8% year over year to $117.3 million, primarily driven by strong royalty payments, especially from J&J JNJ, partially offset by lower revenues under collaboration agreements. The top line, however, missed the Zacks Consensus Estimate of $126.91 million.
Halozyme stock has declined 5% so far this year compared with the industry’s 28% decrease.