TARRYTOWN, N.Y. (AP) — TARRYTOWN, N.Y. (AP) — Regeneron Pharmaceuticals Inc. (REGN) on Thursday reported second-quarter profit of $1.3 billion.
On a per-share basis, the Tarrytown, New York-based company said it had net income of $12.23. Earnings, adjusted for one-time gains and costs, were $14.29 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $10 per share.
The biopharmaceutical company posted revenue of $4.29 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.84 billion.
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