CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Ionis Pharmaceuticals Inc. (IONS) on Wednesday reported second-quarter net income of $124 million.
On a per-share basis, the Carlsbad, California-based company said it had profit of 70 cents. Earnings, adjusted for stock option expense, were 86 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The drug discovery and development company posted revenue of $452 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $270.7 million.
Ionis Pharmaceuticals expects full-year revenue in the range of $825 million to $850 million.
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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 IONS at https://www.zacks.com/ap/IONS
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