Allergan Earnings: Here’s Why Investors Like These Results
Allergan Inc. (NYSE:AGN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.97%.
Allergan Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.02% to $1.22 in the quarter versus EPS of $1.07 in the year-earlier quarter.
Revenue: Rose 7.13% to $1.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Allergan Inc. reported adjusted EPS income of $1.22 per share. By that measure, the company beat the mean analyst estimate of $1.20. It beat the average revenue estimate of $1.56 billion.
Quoting Management: “In the second quarter, double digit sales and earnings growth is in line with our long term growth aspirations,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “We are also pleased with further R&D progress with the FDA Advisory Committee’s unanimous recommendation for JUVÉDERM VOLUMA™ XC and with the filing of OZURDEX® for diabetic macular edema in both the United States and Europe.”
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