Cubist Pharmaceuticals Inc. (CBST), Thursday reported a sharp decline in first-quarter net income to $6 million or $0.09 per share from $32.8 million or $0.45 per share last year.
Excluding items, adjusted earnings for the quarter were $0.34 per share, compared to $0.55 per share a year ago.
Revenues for the quarter were up 9% at $230 million, compared to $211.7 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.31 per share on revenues of $243.55 million for the quarter. Analysts' estimates typically exclude special items.
Results were hurt by operating expenses that escalated to $220 million from $151.7 million last year, due mainly to an increase in research costs.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.