NEW YORK (AP) — NEW YORK (AP) — Royalty Pharma (RPRX) on Wednesday reported first-quarter profit of $295 million.
On a per-share basis, the New York-based company said it had profit of 53 cents. Earnings, adjusted for non-recurring costs, were $1.30 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The company posted revenue of $631 million in the period. Its adjusted revenue was $925 million.
Royalty Pharma expects full-year revenue in the range of $3.33 billion to $3.45 billion.
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