Regeneron beats estimates as COVID-19 antibody cocktail sales soar
US biotech company Regeneron Pharmaceuticals (Nasdaq: REGN) reported a 51% increase in its third-quarter 2021 revenue when announcing its latest financial results on Thursday.
The total of $3.45 billion was well ahead of the $2.82 billion expected by analysts, according to Refinitiv IBES data.
Regeneron easily beat expectations on the bottom line, too. Net income nearly doubled year-over-year at $14.33 per share based on generally accepted accounting principles (GAAP). The company’s non-GAAP earnings per share came in at $15.37, up from $8.36 in the prior-year period and well above the average analysts' estimate of $9.56.
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