BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Monday reported first-quarter profit of $646.3 million.
On a per-share basis, the Boston-based company said it had net income of $2.49. Earnings, adjusted for one-time gains and costs, came to $4.06 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.22 per share.
The drugmaker posted revenue of $2.77 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $2.82 billion.
Vertex expects full-year revenue in the range of $11.85 billion to $12 billion.
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