WILMINGTON, Del. (AP) _ Incyte Corp. (INCY) on Tuesday reported first-quarter net income of $102.3 million, after reporting a loss in the same period a year earlier.
The Wilmington, Delaware-based company said it had profit of 47 cents per share. Earnings, adjusted for one-time gains and costs, were 62 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The specialty drugmaker posted revenue of $497.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $476.4 million.
Incyte expects full-year revenue in the range of $1.58 billion to $1.65 billion.
Incyte shares have risen 17% since the beginning of the year. The stock has risen 18% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INCY at https://www.zacks.com/ap/INCY