Incyte Corporation Q4 Profit Decreases, but beats estimates

(RTTNews) - Incyte Corporation (INCY) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $28.46 million, or $0.13 per share. This compares with $563.85 million, or $2.54 per share, in last year's fourth quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $139.66 million or $0.62 per share for the period.

Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.4% to $926.70 million from $862.85 million last year.

Incyte Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $28.46 Mln. vs. $563.85 Mln. last year. -EPS (Q4): $0.13 vs. $2.54 last year. -Analyst Estimates: $0.58 -Revenue (Q4): $926.70 Mln vs. $862.85 Mln last year.