TARRYTOWN, N.Y. (AP) — TARRYTOWN, N.Y. (AP) — Regeneron Pharmaceuticals Inc. (REGN) on Tuesday reported first-quarter profit of $808.7 million.
The Tarrytown, New York-based company said it had profit of $7.27 per share. Earnings, adjusted for one-time gains and costs, came to $8.22 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $8.43 per share.
The biopharmaceutical company posted revenue of $3.03 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $3.28 billion.
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