NEW YORK (AP) _ Royalty Pharma (RPRX) on Thursday reported second-quarter profit of $305 million.

On a per-share basis, the New York-based company said it had profit of 50 cents. Earnings, adjusted for non-recurring costs, were 79 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The company posted revenue of $536 million in the period. Its adjusted revenue was $524 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $511.9 million.

Royalty Pharma expects full-year revenue in the range of $2.28 billion to $2.35 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RPRX at https://www.zacks.com/ap/RPRX

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News