Vertex Reports Slight Revenue Beat but Earnings Miss in Q2 2024

Vertex Pharmaceuticals (VRTX) announced its financial results for the second quarter of 2024, revealing revenues of $2.65 billion—up 6.1% compared to the previous year. However, the company's earnings per share (EPS) stood at -$12.83, a significant decline from $3.89 in the same period last year. The revenue met analyst expectations, aligning precisely with the consensus estimate of $2.65 billion, resulting in a minimal negative surprise of -0.08%. Conversely, EPS fell short of forecasts, with a surprise of -11.57%, compared to an expected -$11.50. Investors closely monitor these financial figures alongside other key metrics to assess Vertex's overall health and future prospects. Comparing current results with prior-year data and analyst estimates helps in understanding potential stock performance. In the recent quarter, Vertex's regional and product-specific revenues showed positive trends: - U.S. revenues reached $1.61 billion, surpassing the estimated $1.59 billion and marking a 7.1% increase year-over-year. - International revenues totaled $1.03 billion, matching estimates and growing 4.7% from the previous year. - Revenue from Trikafta/Kaftrio was $2.45 billion, meeting pro...