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Vertex: 2Q Earnings Snapshot

July 31, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRTX at https://www.zacks.com/ap/VRTX

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