Regeneron: 2Q Earnings Snapshot
TARRYTOWN, N.Y. (AP) _ Regeneron Pharmaceuticals Inc. (REGN) on Thursday reported second-quarter profit of $551.4 million.
On a per-share basis, the Tarrytown, New York-based company said it had profit of $4.82. Earnings, adjusted for one-time gains and costs, came to $5.45 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.74 per share.
The biopharmaceutical company posted revenue of $1.61 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $1.58 billion.
Regeneron shares have fallen slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has fallen 21 percent in the last 12 months.