Incyte Corporation Q3 Profit Drops, Inline With Estimates

(RTTNews) - Incyte Corporation (INCY) released earnings for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line came in at $106.456 million, or $0.54 per share. This compares with $171.269 million, or $0.76 per share, in last year's third quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $209.651 million or $1.07 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.7% to $1.137 billion from $919.025 million last year.

Incyte Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $106.456 Mln. vs. $171.269 Mln. last year. -EPS (Q3): $0.54 vs. $0.76 last year. -Revenue (Q3): $1.137 Bln vs. $919.025 Mln last year.