Innoviva (INVA) Misses Q3 EPS by 10c, Miss on Revenues

Innoviva (NASDAQ: INVA) reported Q3 EPS of $0.21, $0.10 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $51.9 million versus the consensus estimate of $57.19 million.

• Royalties earned in the third quarter of 2017 of $51.9 million, up 42% from the third quarter of 2016.
• Completed the full refinancing of the 9% non-recourse term notes due 2029.
• Plans to repurchase up to $80 million of common stock, pursuant to an accelerated share repurchase (ASR) plan, which will complete the company’s $150 million capital return plan for 2017.
• Management to host a conference call and webcast today at 5:00 p.m. eastern time.

For earnings history and earnings-related data on Innoviva (INVA) click here.

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