Vertex Pharmaceuticals Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.10 billion, or $4.21 per share. This compares with $699.8 million, or $2.69 per share, in last year's first quarter.

Excluding items, Vertex Pharmaceuticals Inc. reported adjusted earnings of $1.24 billion or $4.76 per share for the period.

Analysts on average had expected the company to earn $4.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.5% to $2.69 billion from $2.37 billion last year.

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

-Earnings (Q1): $1.10 Bln. vs. $699.8 Mln. last year. -EPS (Q1): $4.21 vs. $2.69 last year. -Revenue (Q1): $2.69 Bln vs. $2.37 Bln last year.

-Guidance: Full year revenue guidance: $10.55 to $10.75 Bln