Zoetis Shares Rise Amid Earnings Beat, Guidance Raise
August 06 2019 - 11:06AM
Dow Jones News
By Colin Kellaher
Shares of Zoetis Inc. (ZTS) rose more than 6% Wednesday after
the animal-health company posted second-quarter earnings that
topped expectations and raised its full-year guidance.
Zoetis reported adjusted earnings of 90 cents a share for the
quarter, ahead of the per-share adjusted profit of 82 cents
analysts polled by FactSet were expecting.
Revenue rose 9% to $1.55 billion, topping Wall Street's forecast
of $1.52 billion.
The Parsippany, N.J., company said it now expects 2019 adjusted
earnings of $3.53 to $3.60 a share on revenue of $6.175 billion to
$6.275 billion, up from a previous forecast of an adjusted profit
of $3.42 to $3.52 a share on revenue of $6.1 billion to $6.225
billion.
Analysts polled by FactSet, on average, were expecting full-year
adjusted earnings of $3.49 a share and revenue of $6.19
billion.
Shares of Zoetis recently were up 6.7% to $120.11.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 06, 2019 10:51 ET (14:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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