PDL BioPharma Q2 Profit Beats Estimate

(RTTNews) - PDL BioPharma Inc. (PDLI) reported second-quarter net income of $92.1 million, or $0.52 per share, down from $93.7 million, or $0.62 per share, previous year.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased about 10 percent to $162.75 million from $148.52 million in the comparable quarter last year. Three analysts expected revenue of $134.07 million for the quarter.

The company said it will provide third quarter revenue guidance in September 2014.