13 Feb, 2017 17:18 – The Israeli pharmaceuticals company saw its share price jump after its financial results beat the analysts and it reaffirmed its 2017 guidance.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) was given a badly needed boost this afternoon by its fourth quarter and full year 2016 results. Moreover, the Israeli pharmaceutical company reiterated its 2017 forecast of $23.8 – 24.5 billion revenue and non-GAAP earnings per share of $4.90-5.30, quashing predictions that guidance would be lowered. Immediately after the results were published, Teva’s share price had risen 4.3%.
Fourth quarter revenue was $6.5 billion, up 33% from the corresponding quarter of 2015, primarily due to the inclusion of Actavis generics business. This beat the analysts’ consensus of $6.26 billion. Non-GAAP earnings per share was $1.38, up from $1.28 in the corresponding quarter of 2015 and higher than the analysts’ estimate of $1.36. On a GAAP basis Teva lost $1.1 billion in the fourth quarter compared with GAAP profit of $1.1 billion in the corresponding quarter………Read More>>