Market Overview

Teva Reports Q2 Earnings Beat, Reaffirms Guidance

Share:
Teva Reports Q2 Earnings Beat, Reaffirms Guidance

Teva Pharmaceutical Indus (NYSE: TEVA) reported second-quarter earnings of 60 cents per share, which beat the analyst consensus estimate of 57 cents by 5.26%. This is a 23.08% decrease over earnings of 78 cents per share from the same period last year.

The company reported quarterly sales of $4.337 billion, which beat the analyst consensus estimate of $4.25 billion by 2.05%. This is a 7.74% decrease over sales of $4.701 billion the same period last year.

Teva's CFO Mike McClellan will step down and the company has initiated a search for his replacement.

"During the second-quarter, portfolio optimization and new launches stabilized our North American generics business, Copaxone performed above expectations and Austedo achieved a very strong growth rate. We continue to focus our efforts on growth for Ajovy in the US and are excited by the early momentum of the product's recent launches in the EU,” said CEO Kåre Schultz.

"We are on track to achieve the targets of our two year restructuring plan and based on our good results for the first half of the year we are reaffirming our full year guidance."

Teva shares were trading higher by 0.8% at $7.12 in Wednesday’s pre-market session. The stock has a 52-week high of $25.96 and a 52-week low of $6.93.

Related Links:

Regeneron Pharmaceuticals Reports Q2 Earnings Beat

The Daily Biotech Pulse: Novartis Stands By Zolgensma, GW Pharma Q2 Propelled By Epidiolex Sales

Posted-In: Earnings News Guidance Top Stories Best of Benzinga

 

Related Articles (TEVA)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Why You Should Be Wary Of A Short Sale When Buying A House

Subway Partners With Beyond Meat To Trial Beyond Meatball Sub