Regeneron Pharmaceuticals Q1 Profit Decreases, but beats estimates

(RTTNews) - Regeneron Pharmaceuticals (REGN) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $973.5 million, or $8.61 per share. This compares with $1.12 billion, or $10.09 per share, in last year's first quarter.

Excluding items, Regeneron Pharmaceuticals reported adjusted earnings of $1.32 billion or $11.49 per share for the period.

Analysts on average had expected the company to earn $9.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.4% to $2.97 billion from $2.53 billion last year.

Regeneron Pharmaceuticals earnings at a glance (GAAP) :

-Earnings (Q1): $973.5 Mln. vs. $1.12 Bln. last year. -EPS (Q1): $8.61 vs. $10.09 last year. -Analyst Estimates: $9.89 -Revenue (Q1): $2.97 Bln vs. $2.53 Bln last year.