BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Monday reported first-quarter net income of $1.1 billion.
The Boston-based company said it had net income of $4.21 per share. Earnings, adjusted for one-time gains and costs, came to $4.76 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.10 per share.
The drugmaker posted revenue of $2.69 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $2.56 billion.
Vertex expects full-year revenue in the range of $10.55 billion to $10.75 billion.
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