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Vertex: 1Q Earnings Snapshot

BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Tuesday reported first-quarter profit of $268.6 million.

The Boston-based company said it had profit of $1.03 per share. Earnings, adjusted for one-time gains and costs, came to $1.14 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The drugmaker posted revenue of $858.4 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $851 million.

Vertex expects full-year revenue in the range of $3.45 billion to $3.55 billion.

Vertex shares have climbed 2% since the beginning of the year, while the Standard & Poor's 500 index has increased 18%. In the final minutes of trading on Tuesday, shares hit $169.39, a rise of 11% 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 VRTX at https://www.zacks.com/ap/VRTX