Pharmaceutical Product Development Q2 Profit Rises

Pharmaceutical Product Development reported second-quarter net income attributable to shareholders of $46.51 million or $0.41 per share, compared to $20.98 million or $0.18 per share in the prior-year period.

On average, 12 analysts polled by Thomson Reuters expected earnings of $0.38 per share for the quarter. Analysts' estimate typically excludes one-time items.

Net revenue for the quarter grew 10.2% to $407.70 million from $369.92 million in the second quarter of last year, while11 analysts estimated revenues of $370.79 million for the quarter.