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
Anglo-Australian mining giant BHP Billiton plc reported Tuesday a profit in its first half, compared to last year's hefty loss on sharply lower one charges. Underlying EBITDA, a key earnings metric, climbed 65 percent with higher production and prices. The company further lifted its dividend by 150 percent. Shares of HSBC Holdings Plc declined around 4 percent in Hong Kong trading after the Asia-focused lender reported wider net loss in its fourth quarter amid weak net interest income. Further, the company maintained its dividend, and said its Board plans a further $1.0 billion share buy-back, which is expected to complete in the first half of 2017. U.S. food maker Kraft Heinz Co., which had offered $143 billion in cash and stock to buy Anglo-Dutch consumer goods company Unilever, Sunday said it has amicably agreed to withdraw its proposal for a combination of the two companies.
comments powered by Disqus
Follow RTT