Regeneron Pharmaceuticals Q3 Profit Decreases, but beats estimates

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

The company's earnings totaled $1.008 billion, or $8.89 per share. This compares with $1.316 billion, or $11.66 per share, in last year's third quarter.

Excluding items, Regeneron Pharmaceuticals reported adjusted earnings of $1.329 billion or $11.59 per share for the period.

Analysts on average had expected the company to earn $10.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.5% to $3.363 billion from $2.936 billion last year.

Regeneron Pharmaceuticals earnings at a glance (GAAP) :

-Earnings (Q3): $1.008 Bln. vs. $1.316 Bln. last year. -EPS (Q3): $8.89 vs. $11.66 last year. -Analyst Estimates: $10.77 -Revenue (Q3): $3.363 Bln vs. $2.936 Bln last year.