BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Thursday reported fourth-quarter net income of $1.19 billion.
The Boston-based company said it had profit of $4.65 per share. Earnings, adjusted for one-time gains and costs, came to $5.03 per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.07 per share.
The drugmaker posted revenue of $3.19 billion in the period, surpassing Street forecasts. Ten analysts surveyed by Zacks expected $3.17 billion.
For the year, the company reported profit of $3.95 billion, or $15.32 per share. Revenue was reported as $12 billion.
Vertex expects full-year revenue in the range of $12.95 billion to $13.1 billion.
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