Vertex Pharmaceuticals Inc. (VRTX) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings came in at $646.3 million, or $2.49 per share. This compares with $1.099 billion, or $4.21 per share, last year.
Excluding items, Vertex Pharmaceuticals Inc. reported adjusted earnings of $1.054 billion or $4.06 per share for the period.
Analysts on average had expected the company to earn $4.29 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 3.0% to $2.770 billion from $2.690 billion last year.
Vertex Pharmaceuticals Inc. earnings at a glance (GAAP) :
-Earnings: $646.3 Mln. vs. $1.099 Bln. last year.-EPS: $2.49 vs. $4.21 last year.-Revenue: $2.770 Bln vs. $2.690 Bln last year.
-Guidance:Full year revenue guidance: $11.85 - $12.00 Bln
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