Teva Pharmaceuticals reported Q2 revenue of $4.1 billion, topping estimates by $70 million, while earnings missed expectations.
Teva Pharmaceutical (TEVA) shares rose 12.3% over the past week after reporting second-quarter revenue of $4.1 billion, exceeding analyst estimates by $70 million. Adjusted earnings per share came in at $0.02, below the $0.11 forecast, but investors focused on the sales beat and improved outlook.
The company’s revenue declined 1% year-over-year, a smaller drop than anticipated. Full-year guidance projects adjusted earnings between $1.91 and $2.11 per share, below the $2.16 consensus, while sales are expected to range from $16.5 billion to $16.85 billion.
Teva’s stock outperformed the S&P 500 and Nasdaq Composite, which rose 0.2% and 0.5%, respectively, over the same period.