Vertex: 2Q Earnings Snapshot
BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Wednesday reported second-quarter profit of $267.4 million.
On a per-share basis, the Boston-based company said it had net income of $1.03. Earnings, adjusted for one-time gains and costs, were $1.26 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The drugmaker posted revenue of $941.3 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $883.7 million.
Vertex shares have climbed nearly 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. In the final minutes of trading on Wednesday, shares hit $166.91, a decline of nearly 5% in the last 12 months.