Teva's 17% hike in 1st-qtr revenues misses expectations but earnings in line
Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) today reported results for the first quarter of 2017, posting revenues of $5.6 billion, a rise of 17%, but missed the consensus analysts’ estimate of $5.7 billion.
Teva’s shares gained more than 2% in early trading but were down 2.1% at $30.70 by late morning in New York activity.
The rise was primarily due to the inclusion of the Actavis Generics business, following the closing of the acquisition on August 2, 2016. Excluding the impact of foreign exchange fluctuations, revenues increased 22%.
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