AP NEWS

Vertex: 3Q Earnings Snapshot

October 30, 2019

BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Wednesday reported third-quarter profit of $57.5 million.

The Boston-based company said it had profit of 22 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were $1.23 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The drugmaker posted revenue of $949.8 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $952.2 million.

Vertex shares have climbed 20% since the beginning of the year, while the Standard & Poor’s 500 index has increased 22%. In the final minutes of trading on Wednesday, shares hit $199.24, a climb of 16% 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