Incyte: Q1 Earnings Snapshot
WILMINGTON, Del. (AP) _ Incyte Corp. (INCY) on Tuesday reported first-quarter profit of $38 million.
The Wilmington, Delaware-based company said it had net income of 17 cents per share. Earnings, adjusted for one-time gains and costs, were 55 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The specialty drugmaker posted revenue of $733.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $763.8 million.