Ultragenyx Pharmaceutical Inc (RARE) recently reported their earnings for the fourth quarter, showing a decrease in losses compared to the same time period last year, and surpassing predictions from the Street.
The company's earnings came in at a loss of $123.2 million, which equates to a loss of $1.52 per share. This shows improvement from the previous year's fourth quarter, which experienced losses of $151.8 million or $2.16 per share.
According to data gathered by Thomson Reuters, analysts had projected the company would report a loss of $1.62 per share on average, excluding any special items. Ultragenyx successfully outperformed these estimates.
The company also demonstrated growth in revenue for the quarter, reporting a 23.3% increase from the previous year, totalling $127.4 million, compared to $103.3 million recorded for the same period in the previous year.
To summarize Ultragenyx Pharmaceutical's earnings (based on Generally Accepted Accounting Principles or GAAP), the loss for the fourth quarter amounted to $123.2 million, compared to $151.8 million last year. Likewise, loss per share was $1.52, an improvement from last year's $2.16. The predicted average loss was $1.62 per share. Finally, the company's revenue for the quarter was $127.4 million, a noticeable increase from last year's $103.3 million.
