Incyte Corporation Q2 adjusted earnings Beat Estimates

(RTTNews) - Incyte Corporation (INCY) announced a profit for its second quarter that advanced from last year.

The company's profit came in at $290.30 million, or $1.32 per share. This compares with $105.32 million, or $0.48 per share, in last year's second quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $273.58 million or $1.24 per share for the period.

Analysts had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 29.8% to $688.04 million from $529.93 million last year.

Incyte Corporation earnings at a glance:

-Earnings (Q2): $273.58 Mln. vs. $162.47 Mln. last year. -EPS (Q2): $1.24 vs. $0.75 last year. -Analysts Estimate: $0.87 -Revenue (Q2): $688.04 Mln vs. $529.93 Mln last year.