Celgene Corp., the maker of blockbuster cancer therapy Revlimid, said its third-quarter earnings rose 6% and raised its outlook for full-year 2018.

The Summit, N.J.-based drugmaker booked third-quarter adjusted net income of $1.65 billion, or $2.29 per share, up from $1.56 billion, or $1.91 per share, a year earlier.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter was $2.23.

Net product sales for the quarter came in at $3.89 billion, up 18% year over year from $3.28 billion in the same period last year. Third-quarter sales for Revlimid rose 18% year over year to $2.45 billion.

Research and development expenses for the quarter came in at $1.08 billion, down from $1.35 billion in the year-ago period.

On a GAAP basis, Celgene booked third-quarter net income of $1.08 billion, or $1.50 per share, up from $988 million, or $1.21 per share, in the year-ago quarter.

For the first nine months of 2018, adjusted net income was $4.80 billion, or $6.49 per share, up from $4.42 billion, or $5.44 per share, a year earlier.

Net product sales for the nine-month period were $11.23 billion, up from $9.49 billion in the year-ago period.

GAAP net income for the nine-month period came at $2.97 billion, or $4.02 per share, which compares to $3.02 billion, or $3.72 per share, for the same period in 2017.

Outlook for 2018

Based on the company's third-quarter performance, Celgene now expects full-year 2018 adjusted EPS to be in the range of $8.75 to $8.80, up from the previous guidance of $8.70 to $8.75.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2018 is $8.76.

Total revenue for the year is also expected to hit about $15.20 billion, up from the previous outlook of about $15 billion.

The company lowered its GAAP EPS guidance for the year to a range of $5.25 to $5.75 from $5.95 to $6.25 previously.