Allergan Beat 1Q Earnings Expectations But Misses On Revenue

Allergan PLC reported first-quarter earnings early Tuesday that beat earnings expectations but missed revenue expectations. Earnings for the latest quarter rose to $186.1 million, or 47 cents per share, compared with a loss of $535.2 million, or a loss of $1.05 per share, in the same period a year ago. Adjusted earnings-per-share were $3.04, compared with the FactSet consensus of $3.00. Revenue rose to $3.80 billion from $2.56 billion, compared with the FactSet consensus of $3.95 billion. The company also announced an up to $10 billion share buyback program early Tuesday morning. Allergan stock was up 0.2% in pre-market trade. The company's shares slumped 23.6% in the last three months, compared with a 11.2% rise in the S&P 500 .