Vertex Pharmaceuticals Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.04 billion, or $3.97 per share. This compares with $0.93 billion, or $3.59 per share, in last year's third quarter.

Excluding items, Vertex Pharmaceuticals Inc. reported adjusted earnings of $1.06 billion or $4.08 per share for the period.

Analysts on average had expected the company to earn $3.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.4% to $2.48 billion from $2.33 billion last year.

Vertex Pharmaceuticals Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.04 Bln. vs. $0.93 Bln. last year. -EPS (Q3): $3.97 vs. $3.59 last year. -Analyst Estimate: $3.98 -Revenue (Q3): $2.48 Bln vs. $2.33 Bln last year.

-Guidance: Full year revenue guidance: $9.85 Bln