Vertex Pharmaceuticals Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $646.3 million, or $2.49 per share. This compares with $1.099 billion, or $4.21 per share, last year.

Excluding items, Vertex Pharmaceuticals Inc. reported adjusted earnings of $1.054 billion or $4.06 per share for the period.

Analysts on average had expected the company to earn $4.29 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.0% to $2.770 billion from $2.690 billion last year.

Vertex Pharmaceuticals Inc. earnings at a glance (GAAP) :

-Earnings: $646.3 Mln. vs. $1.099 Bln. last year. -EPS: $2.49 vs. $4.21 last year. -Revenue: $2.770 Bln vs. $2.690 Bln last year.

-Guidance: Full year revenue guidance: $11.85 - $12.00 Bln