Exelixis (EXEL) Q4 Earnings Beat on Lower R&D Spend, Sales Miss

Exelixis, Inc. (EXEL) reported earnings of 33 cents per share in the fourth quarter of 2023, which beat the Zacks Consensus Estimate of 31 cents. The company posted a net loss of 3 cents per share in the fourth quarter of 2022.Including stock-based compensation expenses, earnings per share were 27 cents against a loss of 9 cents in the year-ago quarter due to an increase in revenues and lower expenses.Net revenues were $479.6 million, marginally missing the Zacks Consensus Estimate of$481 million. Revenues ...