$ALXN misses 1Q profit forecasts

0
1152

Alexion misses 1Q profit forecasts

Alexion Pharmaceuticals misses 1Q profit expectations, tops revenue forecasts

CHESHIRE, Conn. (AP) _ Alexion Pharmaceuticals Inc. (ALXN) on Thursday reported first-quarter profit of $91.3 million.

The Cheshire, Connecticut-based company said it had net income of 45 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.28 per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The drugmaker posted revenue of $600.3 million in the period, exceeding Street forecasts. Ten analysts surveyed by Zacks expected $592.4 million.

Alexion expects full-year earnings in the range of $5.60 to $5.80 per share.

Alexion shares have climbed roughly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 percent. The stock has risen 21 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALXN at http://www.zacks.com/ap/ALXN

LEAVE A REPLY

Please enter your comment!
Please enter your name here