SOMERVILLE, Mass. (AP) — SOMERVILLE, Mass. (AP) — Bluebird Bio Inc. (BLUE) on Tuesday reported first-quarter net income of $21.2 million, after reporting a loss in the same period a year earlier.
The Somerville, Massachusetts-based company said it had profit of 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 54 cents per share.
The biotechnology company posted revenue of $2.4 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $22.9 million.
The company's shares closed at $4.35. A year ago, they were trading at $3.73.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a BLUE">Zacks stock report on BLUE at https://www.zacks.com/ap/BLUE