Teva Pharmaceutical Industries Limited Earnings: Here’s Why the Stock is Up Now
Teva Pharmaceutical Industries Limited (NASDAQ:TEVA) 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 0.13%.
Teva Pharmaceutical Industries Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 23.81% to $1.12 in the quarter versus EPS of $1.47 in the year-earlier quarter.
Revenue: Decreased 3.94% to $4.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Teva Pharmaceutical Industries Limited reported adjusted EPS income of $1.12 per share. By that measure, the company beat the mean analyst estimate of $1.1. It beat the average revenue estimate of $4.85 billion.
Quoting Management: “During the quarter, we were pleased by the overall performance of our specialty products and results of our OTC joint venture. Our generic operations, which are a core component of our business, performed in line with our expectations and were particularly strong in Western and Eastern Europe,” stated Dr. Jeremy Levin, Teva’s President and Chief Executive Officer. “Over the past year, we have executed on the strategic plan which we articulated in December and with the recent addition of some key leadership appointments, we now have an organizational structure in place which supports our strategic plan. I firmly believe that Teva is poised to seize today’s opportunities and successfully meet our industry’s changing dynamics tomorrow.”
Key Stats (on next page)…