DUBLIN (AP) — DUBLIN (AP) — Avadel Pharmaceuticals PLC (AVDL) on Thursday reported second-quarter net income of $9.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dublin-based company said it had profit of 10 cents.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The specialty pharmaceutical company posted revenue of $68.1 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $61.8 million.
Avadel shares have increased almost 6% since the beginning of the year. The stock has decreased 33% in the last 12 months.
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