Ironwood: 2Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Ironwood Pharmaceuticals Inc. (IRWD) on Tuesday reported second-quarter net income of $12.3 million, after reporting a loss in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had profit of 8 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The drugmaker posted revenue of $102.2 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $90.7 million.
Ironwood expects full-year revenue in the range of $370 million to $390 million.
Ironwood shares have risen almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.53, a fall of 44% in the last 12 months.