Allergan Misses Street 3Q Forecasts
Allergan PLC on Wednesday reported third-quarter net income of $15.22 billion.
On a per-share basis, the Dublin-based company said it had net income of $38.58. Earnings, adjusted to account for discontinued operations, came to $3.32 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.57 per share.
The Botox maker posted revenue of $3.62 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $3.7 billion.
Allergan expects full-year earnings in the range of $13.30 to $13.50 per share, with revenue in the range of $14.45 billion to $14.65 billion.
Allergan shares have decreased 33 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 3 percent. The stock has decreased 34 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGN at https://www.zacks.com/ap/AGN
Keywords: Allergan, Earnings Report