Incyte Corporation (INCY)

Incyte beat expectations on both the top and bottom line in the second fiscal quarter of 2026, reported July 28, with adjusted EPS of $3.09 topping the $2.15 estimate (+43.7%) and revenue of $1.674 billion topping the $1.504 billion estimate (+11.3%). Revenue rose ~38% to about $1.7 billion from roughly $1.2 billion a year ago, with the United States—by far the largest geography—up ~38% to around $1.6 billion, while Europe increased ~33% to about $105.1 million. Profitability remained elevated, with gross margin near 94% and operating margin around 42%, alongside operating income of roughly $697.9 million. Net income climbed ~45% to about $585.6 million from roughly $405.0 million a year earlier, while adjusted EPS was up ~97% from $1.57. The company generated operating cash flow of about $507.7 million in the quarter. For the next period, consensus calls for EPS of USD -3.31 on revenue of USD 1.472 billion.