Royalty Pharma Reports Strong Q4 Earnings, Exceeding Wall Street Expectations
NEW YORK - Royalty Pharma (RPRX) announced net income of $208 million for the fourth quarter on Tuesday. The New York-based company reported earnings per share of 35 cents. Adjusted for non-recurring costs, earnings reached $1.15 per share.
The results surpassed Wall Street analysts' estimates. Zacks Investment Research analysts had projected earnings of $1.09 per share. Royalty Pharma also reported revenue of $594 million for the quarter, with an adjusted revenue of $742 million.
For the full year, the company posted a profit of $859 million, translating to $1.45 per share on revenue of $2.8 billion.
Royalty Pharma anticipates revenue for the upcoming year to fall within a range of $2.9 billion to $3.05 billion.