United Therapeutics profit misses estimates as expenses rise
Oct 29 (Reuters) - United Therapeutics Corp reported quarterly earnings that missed analysts' estimates due to higher expenses.
Net income fell to $62.7 million, or $1.17 per share, in the third quarter, from $78.1 million, or $1.46 per share, a year earlier.
The biotechnology company said selling, general and administrative expenses jumped 37 percent in the three months ended Sept. 30.
Total revenue rose 25 percent to $302.2 million.
Analysts on average had expected a profit of $1.59 per share on revenue of $279 million, according Thomson Reuters I/B/E/S.
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