Exelixis, Inc. (EXEL) reported better-than-expected first-quarter 2025 results.EXEL recorded adjusted earnings of 62 cents per share, which beat the Zacks Consensus Estimate of 42 cents. The company registered adjusted earnings of 17 cents per share in the year-ago quarter. Higher revenues mainly drove the outperformance.Adjusted earnings exclude the impact of stock-based compensation expenses. Including stock-based compensation expense, earnings were 55 cents per share in the reported quarter compared with ...