logo
Share SHARE
FONT-SIZE Plus   Neg

Cubist Pharma Q1 Profit Rises - Quick Facts

Cubist Pharmaceuticals, Inc. (CBST) Wednesday reported a higher profit for the first quarter as revenues increased 30 percent.

The Lexington, Massachusetts-based company reported a first-quarter net profit of $32.79 million or $0.45 per share, compared to $22.59 million or $0.34 per share last year.

Adjusted net income for the quarter rose to $66.31 million or $0.82 per share from $41.20 million or $0.54 per share in the prior-year quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 30 percent to $211.69 million from $162.53 million in the prior-year quarter. Fourteen analysts had a consensus revenue estimate of $209.42 million for the quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks. HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had...
comments powered by Disqus
Follow RTT