BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Monday reported first-quarter profit of $1.03 billion.
The Boston-based company said it had net income of $4.02 per share. Earnings, adjusted for one-time gains and costs, came to $4.47 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.23 per share.
The drugmaker posted revenue of $2.99 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $2.98 billion.
Vertex expects full-year revenue in the range of $12.95 billion to $13.1 billion.
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