UPDATE: Teva Posts Upbeat Q1 Profit, Declares Dividend

Teva Pharmaceutical Industries Limited

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.