Regeneron's 3rd-qtr sales miss but EPS beats analysts' expectations

7 November 2016

Shares of US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) closed up 1.6% at $341.39 in heavy volume, having risen as high as $351.75 in early trading on Friday after reporting better-than-expected earnings.

Regeneron reported third-quarter 2016 GAAP (generally accepted accounting principles) net income of $265 million, a year-on-year increase of 26%, and GAP diluted earnings per share (EPS) of $2.27, up 25%. Non-GAAP diluted EPS came in at $3.13, a rise of 32%, beating analysts’ estimates of $2.69.

Total revenue for the third-quarter rose 7% year-over-year to $1.22 billion but missed analysts' projections of $1.29 billion.

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