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Regeneron Q2 earnings up 10.6% YOY

Regeneron Pharmaceuticals Inc. said its non-GAAP net income for the second quarter amounted to $690.0 million, an increase of 10.6% from $623.7 million in the prior-year period.

EPS climbed 10% year over year to $6.02 from $5.45.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter is $5.42.

The Tarrytown, N.Y.-based company booked total revenue of $1.93 billion, up 20% on an annual basis from $1.60 billion. Meanwhile, research and development expenses climbed 98.1% quarter over quarter to $1.05 billion from $529.3 million.

On a GAAP basis, net income decreased 65.0% to $193.1 million, or $1.68 per share, from $551.4 million, or $4.82 per share, in the year-ago quarter.