Incyte Q2 results beat on top and bottom lines as net income soars 27%; shares down 6%

Aug. 02, 2022 10:36 AM ETIncyte Corporation (INCY)By: Jonathan Block, SA News Editor

Rolled newspaper with the headline Quarterly Results


  • Incyte (NASDAQ:INCY) saw its Q2 net income rise ~27% year over year to ~$226.4M as it beat on the top and bottom lines.
  • Non-GAAP basic EPS of $1.02 compared to $0.81 in Q2 2021.
  • Revenue of $911.4M was ~29% year-over-year increase. This was driven by a 13% increase in Jakafi (ruxolitinib) sales to ~$597.7M. Pemazyre (pemigatinib) revenue also increased ~6% to ~$19M.
  • Non-GAAP SG&A expenses rose 54% $235.6M.
  • Incyte ended the quarter with $2.7B in cash and cash equivalents. That compares to $2.3B on Dec. 31, 2022.
  • Check out this technical analysis of Incyte (INCY) from Seeking Alpha contributor Walter Zelezniak Jr., who has a buy rating.

Recommended For You


To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.