Regeneron shares slump after results badly miss estimates
US biotech Regeneron (Nasdaq: REGN) missed the expectations of Wall Street analysts in both its first-quarter sales and earnings, sending its share price tumbling on Tuesday.
Total revenue rose by 13% compared to the first quarter of 2018, to $1.71 billion, but this was still well shy of the FactSet consensus of $1.77 billion.
Profit for the latest quarter fell to $461 million from $478 million a year ago, a 4% decline, and adjusted earnings per share came in at $4.45 per share, badly missing the FactSet consensus of $5.48 per share.
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