Shire plc said its fourth-quarter 2017 profit rose 18% year over year.
Dublin-based Shire's fourth-quarter non-GAAP net income was $1.21 billion, or $3.98 per American depositary share, up from $1.02 billion, or $3.37 per ADS, a year earlier.
The S&P Capital IQ normalized EPS consensus estimate for the quarter was $3.89.
The pharma giant generated $4.07 billion in quarterly non-GAAP revenues, an increase of 6% year over year on a constant exchange rate basis.
Non-GAAP revenue excludes the receipt of an upfront license fee.
On a GAAP basis, Shire reported fourth-quarter net income of $3.11 billion, or $10.22 per ADS, up from $457.3 million, or $1.51 per ADS, in 2016.
GAAP results account for a benefit related to the recently passed U.S. tax reform law.
For full-year 2017, Shire posted non-GAAP net income of $4.60 billion, or $15.15 per ADS, up from $3.39 billion, or $13.10 per ADS, in 2016.
The S&P Capital IQ normalized EPS consensus estimate for the year was $15.04.
Non-GAAP total revenues amounted to $15.09 billion, a 32% increase year over year.
On a GAAP basis, full-year net income was $4.27 billion, or $14.05 per ADS, which compares to $327.4 million, or $1.27 per ADS, in 2016.
This year, the company will target $14.90 to $15.50 in non-GAAP EPS and $7.30 to $7.90 in GAAP EPS.
The S&P Capital IQ normalized EPS consensus estimate for 2018 is $16.02.
Shire expects to generate between $14.9 billion and $15.3 billion in total 2018 product sales.