Vertex: 4Q Earnings Snapshot
BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Tuesday reported fourth-quarter earnings of $1.55 billion.
On a per-share basis, the Boston-based company said it had net income of $5.97. Earnings, adjusted for one-time gains and costs, came to $1.30 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The drugmaker posted revenue of $870.1 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $818.8 million.
For the year, the company reported profit of $2.1 billion, or $8.09 per share. Revenue was reported as $3.05 billion.
Vertex shares have risen 13 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. In the final minutes of trading on Tuesday, shares hit $187.02, an increase of 21 percent in the last 12 months.