Regeneron Pharmaceuticals Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $818 million, or $7.17 per share. This compares with $974 million, or $8.61 per share, in last year's first quarter.

Excluding items, Regeneron Pharmaceuticals reported adjusted earnings of $1.168 billion or $10.09 per share for the period.

Analysts on average had expected the company to earn $9.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.6% to $3.162 billion from $2.965 billion last year.

Regeneron Pharmaceuticals earnings at a glance (GAAP) :

-Earnings (Q1): $818 Mln. vs. $974 Mln. last year. -EPS (Q1): $7.17 vs. $8.61 last year. -Analyst Estimates: $9.56 -Revenue (Q1): $3.162 Bln vs. $2.965 Bln last year.