WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Incyte Corp. (INCY) on Tuesday reported first-quarter profit of $169.5 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of 75 cents. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The specialty drugmaker posted revenue of $880.9 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $935.8 million.
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