AP NEWS

Global Blood: 1Q Earnings Snapshot

May 6, 2020 GMT

SOUTH SAN FRANCISCO, Calif. (AP) _ Global Blood Therapeutics Inc. (GBT) on Wednesday reported a loss of $73 million in its first quarter.

The South San Francisco, California-based company said it had a loss of $1.20 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $1.47 per share.

The biopharmaceutical company posted revenue of $14.1 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $3.8 million.

Global Blood shares have increased almost 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $81.82, an increase of 45% 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 GBT at https://www.zacks.com/ap/GBT