BOSTON (AP) _ Vertex Pharmaceuticals Inc. (VRTX) on Thursday reported second-quarter profit of $837.3 million.
On a per-share basis, the Boston-based company said it had profit of $3.18. Earnings, adjusted for one-time gains and costs, came to $2.61 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The drugmaker posted revenue of $1.52 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.41 billion.
Vertex shares have increased 28% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $279.40, a climb of 65% in the last 12 months.