WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Incyte Corp. (INCY) on Tuesday reported first-quarter net income of $21.7 million.
The Wilmington, Delaware-based company said it had profit of 10 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 37 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The specialty drugmaker posted revenue of $808.7 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $871.2 million.
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