Biogen just smashed expectations in Q2 2026, raking in $2.74 billion in sales and posting a stunning $3.60 in non-GAAP EPS—75% above forecasts. They’ve also raised their full-year earnings outlook to $16.35 EPS, up 10.8% from earlier guidance, while free cash flow margins jumped to nearly 18%. Despite shaky sales over the past five years, this quarter signals renewed momentum for the long-standing neurology giant. Analysts predict flat revenue ahead, but Biogen’s ability to grow EPS even without revenue growth could be the key to its future success.
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