Regeneron: 2Q Earnings Snapshot
TARRYTOWN, N.Y. (AP) _ Regeneron Pharmaceuticals Inc. (REGN) on Tuesday reported second-quarter earnings of $193.1 million.
The Tarrytown, New York-based company said it had profit of $1.68 per share. Earnings, adjusted for one-time gains and costs, were $6.02 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.42 per share.
The biopharmaceutical company posted revenue of $1.93 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.8 billion.
Regeneron shares have fallen 20% since the beginning of the year, while the Standard & Poor’s 500 index has increased 13%. The stock has dropped 24% in the last 12 months.