Vertex: 4Q Earnings Snapshot

·1 min read

BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Monday reported fourth-quarter net income of $604.2 million.

The Boston-based company said it had net income of $2.30 per share. Earnings, adjusted for one-time gains and costs, were $2.51 per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.

The drugmaker posted revenue of $1.63 billion in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $1.58 billion.

For the year, the company reported profit of $2.71 billion, or $10.29 per share. Revenue was reported as $6.21 billion.

Vertex expects full-year revenue in the range of $6.7 billion to $6.9 billion.

Vertex shares have dropped nearly 2% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Monday, shares hit $231.77, a rise of almost 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRTX at https://www.zacks.com/ap/VRTX