Incyte Corporation Q1 Profit Decreases, misses estimates

(RTTNews) - Incyte Corporation (INCY) reported earnings for first quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $21.70 million, or $0.10 per share. This compares with $37.99 million, or $0.17 per share, in last year's first quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $84.58 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.3% to $808.67 million from $733.24 million last year.

Incyte Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $21.70 Mln. vs. $37.99 Mln. last year. -EPS (Q1): $0.10 vs. $0.17 last year. -Analyst Estimates: $0.75 -Revenue (Q1): $808.67 Mln vs. $733.24 Mln last year.