SAN FRANCISCO (Thomson Financial) - Genentech Inc. late Monday reported an
adjusted second-quarter profit of $871 million, or 82 cents a share, below the
mean 86-cent estimate of analysts polled by Thomson Reuters.
Adjusted earnings in the prior-year quarter came to $834 million, or 78
cents a share, a year ago.
On a net basis the South San Francisco, Calif.-based pharmaceutical company
posted earnings of $782 million, or a 73 cents a share, versus $747 million, or
a 70 cents share, a year earlier.
Revenue for the period ended June 30 rose to $3.24 billion from $3 billion
the year-earlier period, versus the mean Street view of $3.23 billion.
Genentech raised its full-year earnings guidance to a range of $3.40 to
$3.50 a share from an earlier forecast of $3.35 to $3.45 a share.
The stock closed the regular session down $2.45, or 3.2%, at $75.30.
Brigid Gaffikin
bg/gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|