Vertex Pharmaceuticals (VRTX) Misses Q1 Earnings and Revenue Estimates

Core Viewpoint - Vertex Pharmaceuticals reported quarterly earnings of $4.06 per share, missing the Zacks Consensus Estimate of$4.22 per share, and showing a decline from $4.76 per share a year ago, indicating an earnings surprise of -3.79$2.77 billion for the quarter, missing the Zacks Consensus Estimate by 1.72%, but showing an increase from $2.69 billion year-over-year [2] Financial Performance - Over the last four quarters, Vertex has surpassed consensus EPS estimates only once, and has topped consensus revenue estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is$4.25 on revenues of $2.89 billion, and for the current fiscal year, it is$17.69 on revenues of $11.86 billion [7] Market Performance - Vertex shares have increased by approximately 24.5% since the beginning of the year, contrasting with a -3.3% decline in the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Medical - Biomedical and Genetics industry is currently in the top 34% of over 250 Zacks industries, suggesting a favorable outlook as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]