Galapagos NV (GLPG) witnessed a pre-market plunge of 7.09% on Thursday, as investors reacted to the company's mixed earnings results for the fourth quarter and full-year 2024.
Although Galapagos reported better-than-expected earnings per share of $0.30 for the fourth quarter, beating analyst estimates of $(0.35), and revenue of $80.58 million, surpassing expectations of $69.30 million, the company's year-over-year numbers showed declines.
For the full year 2024, Galapagos reported earnings of 1.12 euros ($1.16) per diluted share, down from 3.21 euros in the previous year. Additionally, while the company's revenue increased to 275.6 million euros from 239.7 million euros in 2023, the year-over-year decline in earnings appears to have raised concerns among investors regarding Galapagos' future growth prospects.
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