NEW YORK (AP) — NEW YORK (AP) — Royalty Pharma (RPRX) on Wednesday reported second-quarter profit of $18 million.
On a per-share basis, the New York-based company said it had net income of 3 cents. Earnings, adjusted for non-recurring costs, came to $1.32 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The company posted revenue of $674 million in the period. Its adjusted revenue was $773 million.
Royalty Pharma expects full-year revenue in the range of $3.4 billion to $3.5 billion.
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