Losses at Allergan reduced in 1st-qtr

1 May 2018

Ireland-incorporated Allergan (NYSE: AGN) on Monday reported its first quarter 2018 continuing operations performance, posting net revenues were $3.67 billion, a 2.8% increase from the prior year quarter, beating the FactSet consensus of $3.60 billion, on better-than-expected international brands revenue.

The company reported a net loss that narrowed to $332.5 million, or earnings per share of $0.99. Excluding non-recurring items, such as R&D impairments, adjusted EPS was $3.74, above the FactSet consensus of $3.36.

The company's shares rose about 2.4% to $166.7 in premarket trading. However, they closed the day down 5.18% at $153.65, though edging up 0.88% to $155.00 in after-hours trading.

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