Incyte Corporation Q3 Profit Decreases, misses estimates

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

The company's earnings totaled $112.8 million, or $0.50 per share. This compares with $181.7 million, or $0.82 per share, in last year's third quarter.

Excluding items, Incyte Corporation reported adjusted earnings of $133.8 million or $0.60 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.3% to $823.3 million from $812.9 million last year.

Incyte Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $112.8 Mln. vs. $181.7 Mln. last year. -EPS (Q3): $0.50 vs. $0.82 last year. -Analyst Estimates: $0.72 -Revenue (Q3): $823.3 Mln vs. $812.9 Mln last year.