Incyte: Q2 Earnings Snapshot

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Incyte Corp. (INCY) on Tuesday reported second-quarter net income of $585.6 million.

The Wilmington, Delaware-based company said it had net income of $2.81 per share. Earnings, adjusted for one-time gains and costs, were $3.09 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2 per share.

The specialty drugmaker posted revenue of $1.67 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.46 billion.

Incyte expects full-year revenue in the range of $5.13 billion to $5.26 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INCY at https://www.zacks.com/ap/INCY