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Cubist Pharmaceuticals Inc. (NASDAQ:CBST) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Even though the company still managed to delivered double-digit revenue growth, shares are down 0.58%.
Cubist Pharmaceuticals Inc. Earnings Cheat Sheet
Results: Net income increased 454.25% to $37.8 million (51 cents per diluted share) in the quarter versus a net gain of $6.82 million in the year-earlier quarter.
Revenue: Rose 15.49% to $245.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cubist Pharmaceuticals Inc. reported adjusted net income of 51 cents per share. By that measure, the company beat the mean analyst estimate of $0.48. It missed the average revenue estimate of $246.46 million.
Quoting Management: “We continued our strong momentum in the fourth quarter of 2012, capping a significant year of growth for Cubist,” said Michael Bonney, Chief Executive Officer. “With 2012 total revenues of more than $926 million, we grew our top-line by 23%, driven largely by the continued strong performance of the U.S. and international CUBICIN business, as well as a 21% increase in ENTEREG sales…
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