BioMarin: Q2 Earnings Snapshot
SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported second-quarter profit of $56 million.
On a per-share basis, the San Rafael, California-based company said it had profit of 29 cents. Earnings, adjusted for one-time gains and costs, were 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The rare disease biopharmaceutical posted revenue of $595.3 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $591.5 million.
BioMarin expects full-year earnings in the range of $1.85 to $2.10 per share, with revenue in the range of $2.38 billion to $2.5 billion.
BioMarin shares have fallen 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $87.93, an increase of 2% 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 BMRN at https://www.zacks.com/ap/BMRN
