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
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT