SEATTLE (AP) — SEATTLE (AP) — Adaptive Biotechnologies Corp. (ADPT) on Wednesday reported third-quarter net income of $9.5 million, after reporting a loss in the same period a year earlier.
The Seattle-based company said it had profit of 6 cents per share. Losses, adjusted for non-recurring gains, came to 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The life-sciences research company posted revenue of $94 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $68 million.
Adaptive Biotechnologies shares have nearly tripled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.59, more than tripling in the last 12 months.
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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 ADPT at https://www.zacks.com/ap/ADPT
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