Ardelyx: Q3 Earnings Snapshot

Associated Press Finance
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WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Tuesday reported third-quarter net income of $6.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Waltham, Massachusetts-based company said it had net income of 3 cents.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The biotechnology company posted revenue of $56.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $22.1 million.

The company's shares closed at $3.62. A year ago, they were trading at $1.45.

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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 ARDX at https://www.zacks.com/ap/ARDX

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