TARRYTOWN, N.Y. (AP) _ Regeneron Pharmaceuticals Inc. (REGN) on Wednesday reported second-quarter net income of $897.3 million.
The Tarrytown, New York-based company said it had net income of $7.61 per share. Earnings, adjusted for non-recurring gains, were $7.16 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $6.23 per share.
The biopharmaceutical company posted revenue of $1.95 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.79 billion.
Regeneron shares have risen 73% since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 2%. The stock has more than doubled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on REGN at https://www.zacks.com/ap/REGN
The Associated Press