Incyte Corporation Q2 adjusted earnings Beat Estimates

(RTTNews) - Incyte Corporation (INCY) announced earnings for second quarter that dropped from the same period last year.

The company's profit came in at $149.46 million, or $0.67 per share. This compares with $290.30 million, or $1.32 per share, in last year's second quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $178.83 million or $0.80 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.6% to $705.71 million from $688.04 million last year.

Incyte Corporation earnings at a glance:

-Earnings (Q2): $178.83 Mln. vs. $273.58 Mln. last year. -EPS (Q2): $0.80 vs. $1.24 last year. -Analysts Estimate: $0.75 -Revenue (Q2): $705.71 Mln vs. $688.04 Mln last year.

-Guidance: Full year revenue guidance: $2,125 - $2,170 Mln