Jazz Pharmaceuticals Earnings: Here’s Why Investors Don’t Like These Results
Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.53%.
Jazz Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 31.19% to $1.43 in the quarter versus EPS of $1.09 in the year-earlier quarter.
Revenue: Rose 60.8% to $208.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Jazz Pharmaceuticals, Inc. reported adjusted EPS income of $1.43 per share. By that measure, the company missed the mean analyst estimate of $1.52. It missed the average revenue estimate of $208.71 million.
Quoting Management: “During the second quarter, we continued our track record of delivering strong top and bottom line growth fueled by increasing sales of Xyrem® and Erwinaze®,” said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals plc. “We remain committed to creating long-term shareholder value through disciplined investments to support expansion in our research and development, commercial and operational capacities and pursuit of promising corporate development opportunities.”
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