Vertex (VRTX) Q4 Earnings Beat On Solid CF Products Sales
Zacks Investment Research | Feb 05, 2019 10:31PM ET
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reported fourth-quarter 2018 earnings per share of $1.30 which beat the Zacks Consensus Estimate of $1.05. Moreover, the figure came ahead of the year-ago earnings of 61 cents. Strong cystic fibrosis (CF) product revenues led to higher profits in the reported quarter.
Vertex’s revenues logged $870.1 million in the fourth quarter, also surpassing the Zacks Consensus Estimate of $822 million. The company’s sales surged 33.5% year over year, driven by the rapid uptake of its newest CF medicine, Symdeko, in the United States and the impact of the label expansion of Kalydeco.
Shares of Vertex were up almost 3% in after-hours trading following its earnings announcement on Tuesday. In fact, the stock has rallied 17.5% in the past year against the Zacks Investment Research
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