Vertex Pharmaceuticals Inc. Q1 Profit Increases, beats estimates

Vertex Pharmaceuticals Inc. (VRTX) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $762.1 million, or $2.96 per share. This compares with $653.1 million, or $2.49 per share, in last year's first quarter.

Excluding items, Vertex Pharmaceuticals Inc. reported adjusted earnings of $907.1 million or $3.52 per share for the period.

Analysts on average had expected the company to earn $3.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.1% to $2.10 billion from $1.72 billion last year.

Vertex Pharmaceuticals Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $762.1 Mln. vs. $653.1 Mln. last year.
-EPS (Q1): $2.96 vs. $2.49 last year.
-Analyst Estimate: $3.49
-Revenue (Q1): $2.10 Bln vs. $1.72 Bln last year.

Full year revenue guidance: $8.4 to $8.6 Bln

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