5 Earnings Reports Catching Investors’ Attention

In this article, we discuss the 5 earnings reports catching investors’ attention. If you want to read our detailed analysis of these companies, go directly to the 11 Earnings Reports Catching Investors’ Attention.

5. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 61

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) fell over five percent in the pre-market trading session on Friday, May 6, 2022, despite announcing better-than-expected financial results for the first quarter.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) earned $3.52 per share on an adjusted basis, up from $2.98 per share in the year-ago period. Revenue for the quarter jumped 22 percent on a year-over-year basis to $2.10 billion. The results were slightly better than the consensus of $3.49 per share for earnings and $2.08 billion for revenue.

The biopharmaceutical company also reaffirmed its sales outlook for fiscal 2022. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) continues to expect product revenue in the range of $8.4 – $8.6 billion for the full year.

Discussing the results, CEO Reshma Kewalramani said:

“With yet another quarter of strong revenue performance characterized by 22% year-over-year growth, we are well positioned for continued innovation and sustained growth as we work to bring additional transformative medicines to more patients around the globe.”