Regeneron: 3Q Earnings Snapshot
TARRYTOWN, N.Y. (AP) _ Regeneron Pharmaceuticals Inc. (REGN) on Tuesday reported third-quarter earnings of $594.7 million.
On a per-share basis, the Tarrytown, New York-based company said it had net income of $5.17. Earnings, adjusted for one-time gains and costs, came to $5.87 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.21 per share.
The biopharmaceutical company posted revenue of $1.66 billion in the period, which matched Street forecasts.
Regeneron shares have dropped roughly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 percent. The stock has decreased 13 percent in the last 12 months.