UPDATE: Teva Posts Upbeat Q1 Profit, Declares Dividend
Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) posted a rise in its first-quarter profit.
Its quarterly profit climbed to $859 million, or $0.97 per share, versus $761 million, or $0.84 per share, in the year-ago quarter. Excluding one-time items, Teva earned $1.47 per share, up from $1.04 per share. Its revenue climbed 25% to $5.1 billion.
Analysts were expecting earnings of $1.44 per share on revenue of $5.5 billion.
U.S. sales surged 46% to $2.8 billion. European sales fell 2% to $1.3 billion.
Teva also declared a quarterly cash dividend of 1 shekel (26.3 cents) per share.
Teva shares closed at $44.47 yesterday.
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