Vertex Pharma outperforms two quarters in a row

28 October 2022

Vertex Pharmaceuticals (Nasdaq: VRTX) has reported product revenues of $2.3 billion in the third quarter of 2020, an 18% increase on the same period of last year, while upping its revenue guidance for the year to around $8.85 billion.

For the second quarter in a row, the company handily outperformed expectations, with the FT consensus forecast set at $2.23 billion before the announcement.

Net income was $931 million, following Generally Accepted Accounting Principles (GAAP), a 9% jump, giving an earnings per share figure of $3.59.

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