BOSTON (AP) — BOSTON (AP) — Vertex Pharmaceuticals Inc. (VRTX) on Monday reported fourth-quarter profit of $913 million.
The Boston-based company said it had net income of $3.50 per share. Earnings, adjusted for one-time gains and costs, came to $3.98 per share.
The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.99 per share.
The drugmaker posted revenue of $2.91 billion in the period, which topped Street forecasts. Eleven analysts surveyed by Zacks expected $2.77 billion.
For the year, the company reported a loss of $535.6 million, or $2.08 per share. Revenue was reported as $11.02 billion.
Vertex expects full-year revenue in the range of $11.75 billion to $12 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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