Regeneron: 3Q Earnings Snapshot
TARRYTOWN, N.Y. (AP) _ Regeneron Pharmaceuticals Inc. (REGN) on Tuesday reported third-quarter earnings of $669.6 million.
On a per-share basis, the Tarrytown, New York-based company said it had net income of $5.86. Earnings, adjusted for one-time gains and costs, were $6.67 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $6.33 per share.
The biopharmaceutical company posted revenue of $2.05 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.98 billion.
Regeneron shares have declined 17% since the beginning of the year, while the Standard & Poor’s 500 index has increased 23%. The stock has dropped 12% in the last 12 months.