Vertex: Q4 Earnings Snapshot

Associated Press Finance
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BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Monday reported fourth-quarter earnings of $968.8 million.

On a per-share basis, the Boston-based company said it had net income of $3.71. Earnings, adjusted for one-time gains and costs, came to $4.20 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.10 per share.

The drugmaker posted revenue of $2.52 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $2.5 billion.

For the year, the company reported profit of $3.62 billion, or $13.89 per share. Revenue was reported as $9.87 billion.

Vertex expects full-year revenue in the range of $10.55 billion to $10.75 billion.

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

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