Alexion: 3Q Earnings Snapshot
BOSTON (AP) _ Alexion Pharmaceuticals Inc. (ALXN) on Wednesday reported third-quarter profit of $467.6 million.
On a per-share basis, the Boston-based company said it had net income of $2.08. Earnings, adjusted for one-time gains and costs, were $2.79 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The drugmaker posted revenue of $1.26 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $1.24 billion.
Alexion expects full-year earnings in the range of $10.25 to $10.40 per share, with revenue in the range of $4.86 billion to $4.89 billion.
Alexion shares have increased 2% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has dropped 20% in the last 12 months.